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What is the pension expense to be reported for daikon ltd

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Reference no: EM132873367

Daikon Ltd. received the following information from its pension plan trustee concerning their defined benefit pension plan for calendar 2020. The corporation uses ASPE.

Jan 1, 2020:
Fair value of plan assets $ 2,100,000
Accrued benefit obligation 2,400,000

Dec 31, 2020
Fair value of plan assets $ 2,250,000
Accrued benefit obligation 2,580,000

Problem 1: For 2020, the current service cost is $ 180,000. The interest rate on the liability is 10% and the actual rate of return on plan assets is 9%. The pension expense to be reported for 2020 is

a) $ 265,500.

b) $ 231,000.

c) $ 216,000.

d) $ 180,000.

Reference no: EM132873367

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