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What the pension expense to be reported is

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Reference no: EM132609240

Thomson Corp. provides a defined benefit pension plan for its employees, and uses IFRS to account for it. The corporation's actuary has provided the following information for the year ended December 31, 2020:

Defined benefit obligation, Dec 31 525,000

Fair value of plan assets, Dec 31 625,000

Current service cost 240,000

Interest on defined benefit obligation 24,000

Past service costs 60,000

Expected and actual return on plan assets 82,500

Contributions to plan 200,000

Question 1: The pension expense to be reported for 2020 is

(A) $ 241,500.

(B) $ 324,000.

(C) $ 406,500.

(D) $ 441,500.

(E) $ 524,000.

Reference no: EM132609240

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