E20-2
Service cost 90,000
Interest Cost (700,000*.10) 70,000
Expected return on plan assets (64,000)
Prior service cost amortization 10,000
Pension expense for 2017 106,000
E20-5 (Image)
72,000/24 = $3,000 Cot per service-year
E20-9
(a)Note to financial statements disclosing components of 2017 pension expense:
Note X: Net pension expense for 2017 is composed of the following components of pension cost:
Service cost $94,000
Interest cost 253,000
Expected return on plan assets (175,680)
Prior service cost amortization 45,000
Net pension expense $216,320
(b)The following schedule reconciles the funded status of the plan with the amount reported in the balance sheet at December 31, 2017:
Projected benefit obligation $(2,737,000)
Plan assets at fair value 2,278,329
Projected benefit obligation in excess of plan assets (funded status) (458,671)
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