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Sony, Inc.'s defined benefit pension plan reported the following information for 2021: Projected Benefit Obligation, January 1 $500,000 Service cost $35,000 Interest cost $40,000 Benefits paid to retirees Plan assets, January 1 Annual contribution to plan assets $72,000 $450,000 $100,000 Actual return on plan assets $33,000 Expected return on plan assets 10% What amount should Sony report for pension expense for 2021? Multiple Choice $30,000 O $42,000 $100,000 $114,000

Sony, Inc.'s defined benefit pension plan reported the following information for 2021: Projected Benefit Obligation, January 1 $500,000 Service cost $35,000 Interest cost $40,000 Benefits paid to retirees Plan assets, January 1 Annual contribution to plan assets $72,000 $450,000 $100,000 Actual return on plan assets $33,000 Expected return on plan assets 10% What amount should Sony report for pension expense for 2021? Multiple Choice $30,000 O $42,000 $100,000 $114,000

Intermediate Accounting: Reporting And Analysis
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 4E
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Sony, Inc.'s defined benefit pension plan reported the following information for 2021: Projected Benefit Obligation, January 1 $500,000 Service cost $35,000 Interest cost $40,000 Benefits paid to retirees $72,000 Plan assets, January 1 $450,000 Annual contribution to plan assets $100,000 Actual return on plan assets $33,000 Expected return on plan assets 10% What amount should Sony report for pension expense for 2021? Multiple Choice O $30,000 $42,000 $100,000 $114,000
Transcribed Image Text:Sony, Inc.'s defined benefit pension plan reported the following information for 2021: Projected Benefit Obligation, January 1 $500,000 Service cost $35,000 Interest cost $40,000 Benefits paid to retirees $72,000 Plan assets, January 1 $450,000 Annual contribution to plan assets $100,000 Actual return on plan assets $33,000 Expected return on plan assets 10% What amount should Sony report for pension expense for 2021? Multiple Choice O $30,000 $42,000 $100,000 $114,000
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