Kraft, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2018:

Business

1 answer:

brilliants [131]3 years ago

6 0

Answer:

c) $465,000

Explanation:

The amount of pension expense reported for 2018 can be calculated using only the relevant data in the question as follows:

Pension expenses = Service cost + (Beginning of year Projected benefit obligation × 10%) - (Beginning of year fair value of plan assets × 10%)

Therefore, we have:

Pension expenses = $ 345,000 + ($3,600,000 × 10%) - ($2,400,000 × 10%) = $465,000

Therefore, the amount of pension expense reported for 2018 is $465,000.

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