Business, 27.04.2021 15:30 minecraft37385

Crane Corp. sponsors a defined benefit pension plan for its employees. On January1, 2017, the following balances relate to this plan. Plan assets $721,000
Projected benefit obligation 847,000
Pension asset/liability 126,000

Cr. Accumulated OCI (PSC) 98,000 Dr. As a result of the operation of the plan during 2017, the following additional data areprovided by the actuary.

Service cost $91,000
Settlement rate 6%
Actual return on plan assets 51,000
Amortization of prior service cost 29,000
Expected return on plan assets 47,000

Unexpected loss from change
in projected benefit due to change
in actuarial predictions 60,000
Contributions 111,000
Benefits paid retirees 100,000

Required:
Using the data above, compute pension expense for Webb Corp. for the year 2017 by preparing a pension worksheet.

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Crane Corp. sponsors a defined benefit pension plan for its employees. On January1, 2017, the follow...

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