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Compute the Smith pension expense

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Question - Smith, Inc. has a pension plan with the following data available for 20X1 and 20X2:

20X1 20X2

Service cost $30,000 $34,000

Interest cost $18,000 $20,000

Actual return on plan assets $15,000 $21,600

Beginning of year plan assets $200,000 $240,000

Discount rate 8% 8%

Expected return on plan assets 8% 8%

Required - Compute the Smith's pension expense for 20X2?

Reference no: EM132712964

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