The information is provided regarding a company's December 31, 2010, defined benefit pension plan: Service...
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Accounting
The information is provided regarding a company's December 31, 2010, defined benefit pension plan:
Service cost = $540,000
Projected benefit obligation, Jan. 1 = $4,000,000
Fair value plan assets, Jan. 1 = $3,300,000
Amortization of unrecognized prior service cost for the year = $ 270,000
Interest cost = 8%
Expected (and actual) return on plan assets = 10%
Compute the amount of pension expense for 2010.
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