4. (TCO C) Apple Dumpling Inc. sponsors a defined-benefit pension plan. The foll

Question

4. (TCO C) Apple Dumpling Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2013.                Service cost $320,000 Contributions to the plan $285,000 Actual return on plan assets $215,000 Projected benefit obligation (beginning of year) $3,100,000 Fair                value of plan assets (beginning of year) $3,600,000 The expected return on plan assets and the settlement rate were both 9%. The amount of pension expense reported                for 2013 is (Points : 5)

$275,000.00

$384,000.00

$320,000.00

$599,000.00

Explanation / Answer

Apple Dumpling, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2013. Service cost $280,000 Contributions to the plan $270,000 Actual return on plan assets $260,000 Projected benefit obligation (beginning of year) $2,900,000 Fair value of plan assets (beginning of year ) $2,700,000 The expected return on plan assets and the settlement rate were both 10%. The amount of pension expense reported for 2013 is

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