Barton, Inc.received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2016. The service cost component of pension expense for 2016 is $360,000 and the past service cost due to an increase in benefits is $60,000.The discount rate is 10%.What is the amount of pension expense for 2016?

Question

Barton, Inc.received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2016.  The service cost component of pension expense for 2016 is $360,000 and the past service cost due to an increase in benefits is $60,000.The discount rate is 10%.What is the amount of pension expense for 2016?

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The Answer of Barton, Inc.received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2016.  The service cost component of pension expense for 2016 is $360,000 and the past service cost due to an increase in benefits is $60,000.The discount rate is 10%.What is the amount of pension expense for 2016?