(Solution) - Veldre Company provides the following information about its defi -(2025 Original AI-Free Solution)

Paper Details

Veldre Company provides the following information about its defined benefit pension plan for the year 2012.
Service cost ................... $ 90,000
Contribution to the plan ................ 105,000
Prior service cost amortization ............. 10,000
Actual and expected return on plan assets ........ 64,000
Benefits paid .................... 40,000
Plan assets at January 1, 2012 ............. 640,000
Projected benefit obligation at January 1, 2012 ....... 700,000
Accumulated OCI (PSC) at January 1, 2012 ........ 150,000
Interest/discount (settlement) rate ............ 10%
Instructions
Compute the pension expense for the year 2012.