Question - The following information for Cooper Enterprises is given below:
December 31, 2013
Assets and obligations
Plan assets (at fair value) $200,000
Accumulated benefit obligation 370,000
Projected benefit obligation 400,000
Other Items
Pension asset / liability, January 1, 2013 10,000
Contributions 120,000
Accumulated other comprehensive loss 167,900
There were no actuarial gains or losses at January 1, 2013. The average remaining service life of employees is 10 years.
What is the pension expense that Cooper Enterprises should report for 2013?
a. $152,100
b. $220,000
c. $120,000
d. $167,900