LUS Kieso, Intermediate Accounting, 16e dy & Practice Assignment Gradebook ORION

Question

LUS Kieso, Intermediate Accounting, 16e dy & Practice Assignment Gradebook ORION Downloadable eTextbook nAssignment Start Time: 01128 AM / Remaining: 25 min. Multiple Choice Question 71 The following information is related to the pension plan of Pharoah, Inc. for 2018. Actual return on plan assets Amortization of net gain Amortization of prior service cost due to increase in benefits Expected return on plan assets Interest on projected benefit obligation Service cost $320000 125000 220000 388000 645000 1300000 ion ion Pension expense for 2018 is O $1902000. $1688000. $1970000. $1652000. ion on Click if you would like to Show Work for this question: Qpen Show Work :4 000-2017 John Wiley & Sons Ins All Rights Reserved. A Division of 2ghn wiley & Sons,Inc

Explanation / Answer

Calculate pension expenses :

so answer is d) $1652000

Service cost 1300000 Interest cost 645000 Expected return on plant asset (388000) Amortization of prior service cost 220000 Amortization of net gain (125000) Pension expenses 1652000

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