Sweet Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $91.000 Contribution to the plan 106,400 Prior service cost amortization 10,800 Actual and expected return on plan assets 65,200 Benefits paid 40,500 Plan assets at January 1,2020 633,900 Projected benefit obligation at January 1, 2020 701,600 Accumulated OCI (PSC) at January 1, 2020 149,900 Interest/discount (settlement) rate 9 %

Sweet Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $91.000 Contribution to the plan 106,400 Prior service cost amortization 10,800 Actual and expected return on plan assets 65,200 Benefits paid 40,500 Plan assets at January 1,2020 633,900 Projected benefit obligation at January 1, 2020 701,600 Accumulated OCI (PSC) at January 1, 2020 149,900 Interest/discount (settlement) rate 9 %

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 6E

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