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What would both the pension expense

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Reference no: EM132916110

Question - Presented below is information related to ABC Ltd.'s pension plan for 2020.

Current service cost (earned at end of year) $140,000

Funding contribution (made on Oct. 1/19) $240,000

Expected return on plan assets 6%

Interest rate used in actuarial ABO calculation 5%

Amortization of past service cost (PSC) $12,000dr

Amortization of actuarial net loss on PA $18,000dr

Payments to retirees (made evenly through the year) $60,000

Amortization of actuarial net gain on ABO $16,000cr

Projected benefit obligation (at beginning of period) $140,000cr

Market-related asset value (at beginning of period) $150,000dr

Required - What would both the pension expense and the OCI remeasurement amount to be reported by Ripstick Ltd. for 2019 be?

Reference no: EM132916110

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