Solution-Compute the pension expense for the year

Compute the pension expense for the year

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Reference no: EM132436066

Question - Bridgeport Company provides the following information about its defined benefit pension plan for the year 2020.

Service cost	$90,300
Contribution to the plan	106,800
Prior service cost amortization	9,600
Actual and expected return on plan assets	63,800
Benefits paid	39,700
Plan assets at January 1, 2020	629,900
Projected benefit obligation at January 1, 2020	706,100
Accumulated OCI (PSC) at January 1, 2020	150,800
Interest/discount (settlement) rate	10%

Required - Compute the pension expense for the year 2020.

Reference no: EM132436066

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Compute the pension expense for the year

Reference no: EM132436066

Reference no: EM132436066

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