Pension Data for Goldman Company Included the Following for the Current

question 99

Essay

Pension data for Goldman Company included the following for the current calendar year:
Required:
Determine pension expense for the year.
$$\begin{array} { l r } \text { Service cost } & \$ 100,000 \\\text { PBO, January 1 } & 750,000 \\\text { Plan assets, January 1 } & 800,000 \\\text { Amortization of prior service cost } & 6,000 \\\text { Amortization of net loss } & 2,000 \\\text { Discount rate, } 8 \% & \\\text { Expected return on plan assets, } 10 \% & \\\text { Actual return on plan assets, } 12 \% &\end{array}$$

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