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  3. problem 20-7 sheridan corp. sponsors a defined ben

Problem 20-7 Sheridan Corp. sponsors a defined benefit pension plan for its employees. On January...

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Problem 20-7 Sheridan Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balancesr Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost Net gain or loss (debit) $525,000 695,000 170,000 Cr 74,000 91,000 actuary provided the following additional data for 2017. As a result of the operation of the plan during 2017, t Service cost for 2017 Settlement rate, 9%; expected return rate, 10% 104,000 49,000 23,000 129,000 77,000 Actual return on plan assets in 2017 Amortization of prior service cost Contributions in 2017 Benefits paid retirees in 2017 Average remaining service life of active employees 10 years Using the preceding data, compute pension expense for Sheridan Corp. for the year 2017 by preparing a pension workshee amounts as positive.) SHERIDAN CORP Pension Worksheet-2017 Annual Pension ocI-Prior OCI Gain/

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