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24. Take home 25. Presented below is information related to XYZ Inc, pension data for...

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Accounting

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24. Take home 25. Presented below is information related to XYZ Inc, pension data for 20x1. Service cost $350,000 Actual return on plan assets 70,000 Interest on projected benefit obligation 100,000 Amortization of unrecognized net loss 30,000 Amortization of unrecognized prior service cost 45,000 Expected return on plan assets 60,000 What amount should be reported for pension expense in 20x1? Extra Credit (5 points)t: Using the following information, compute the funded status to be repo balance sheet? Service Cost Contributions to plan Return on plan assets Projected benefit obligation(beginning of year) Fair value of plan assets (beginning of year) Prepaid/Accrued pension cost(beginning of year) Benefits paid in the current year Settlement rate $75,000 60,000 80.000 900,000 800,000 100,000 70,000 10% ie: (PBO) PA Funded Status

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