The Donna Company adopted a defined benefit pension plan on January 1, 2016, and prior service cr granted to employees. As of January 1, 2016, the prior service cost is $68,250. The unrecognized pric cost is amortized by the straight-line method over the remaining 15-year service life of the company's employees. Funding for the pension plan was $170,745 and $186,933 at December 31, 2016 and 2017 respectively. Annual service cost Discount (interest) rate 2016 $161,877 2017 $178,065 8%
The Donna Company adopted a defined benefit pension plan on January 1, 2016, and prior service cr granted to employees. As of January 1, 2016, the prior service cost is $68,250. The unrecognized pric cost is amortized by the straight-line method over the remaining 15-year service life of the company's employees. Funding for the pension plan was $170,745 and $186,933 at December 31, 2016 and 2017 respectively. Annual service cost Discount (interest) rate 2016 $161,877 2017 $178,065 8%
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 4RE
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