the following incomplete (column had missing amounts) pension spreadsheet is for
ID: 2537894 • Letter: T
Question
the following incomplete (column had missing amounts) pension spreadsheet is for the curent years of First republic (FRC).
what was FRC's pension expense fro the year?
a.$107, b.$49, c. $44, d. $47
(millions) debit credit PBO Plan assets prior service cost net gain/loss pension expense cash net pension liability/asset beg balance (700) 28 (90) service cost 62 interest expense 49 expected reurn oa assets 68 gain/loss on assets (2) amortization: prior service cost net gain/loss (7) loss on PBO (8) contribution of fund (45) retriee benefits paid (65) ending balance 730 (81)Explanation / Answer
Service cost = $62
Interest cost = $49
Expected return on asset(from plan asset coloumn) = $68 = $(68) in pension expenses column.
Amortization of prior service cost = from prior service cost = $7
Amortization of net gain(from net gain coloumn) $3 = $3 in pension expenses column
Pension expenses = 62+49 - 68 +7 - 3 = $47
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