the following information is in regards to saverio corp s defined benefit pension wh 4375529

The following information is in regards to Saverio Corp.’s defined benefit pension, which is accounted for with the immediate recognition approach. Accrued benefit obligation, funding basis, 1/1/11 (before amendment) ..$176,000 Plan assets, 1/1/11…………………….155,000 Discount rate………………………10% Annual pension service cost…………………13,000 Actual return on plan assets……………………5% Expected return on plan assets …………………9% On January 1, 2011, the company amended its pension plan, which resulted in additional prior service benefits being granted to current employees. The present value of the prior service benefits is $34,000, and the employees are expected to provide future benefits over the next seven years as a result of the pension change. Instructions Calculate the pension expense for 2011. View Solution:
The following information is in regards to Saverio Corp s defined

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