The following information is related to the defined benefit pension plan of Drea

Question

The following information is related to the defined benefit pension plan of Dreamworld Company for the year: Service cost $68,000 Contributions to pension plan 114,000 Benefits paid to retirees 150,000 Plan assets (fair value), January 1 649,000 Plan assets (fair value), December 31 760,000 Actual return on plan assets 154,000 PBO, January 1 925,000 PBO, December 31 935,500 Discount rate 10% Long-term expected return on plan assets 9% Assuming no other relevant data exist, what is the pension expense for the year?

Explanation / Answer

The following information is related to the defined benefit pension plan of Drea

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