Reference no: EM132748112

Question: Monty Enterprises provides the following information relative to its defined benefit pension plan.

Balances or Values at December 31, 2020

Projected benefit obligation $2,737,100

Accumulated benefit obligation 1,977,100

Fair value of plan assets 2,285,300

Accumulated OCI (PSC) 212,100

Accumulated OCI-Net loss (1/1/20 balance, 0) 46,200

Pension liability 451,800

Other pension plan data for 2020:

Service cost $94,500

Prior service cost amortization 42,300

Actual return on plan assets 131,300

Expected return on plan assets 177,500

Interest on January 1, 2020, projected benefit obligation 254,200

Contributions to plan 93,100

Benefits paid 141,300

Collapse question part

(a) Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).)