The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC).
- What was FRC's pension expense for the year?

Question

The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). 
- What was FRC's pension expense for the year?

Quizplus · Accepted Answer

Service cost (given) = $62
Interest cost (given) = $49
Expected return on assets (from plan assets column) = $68 = ($68) in pension expense column
Amortization of prior service cost = from prior service column = $7
Amortization of net gain (from net gain column) = $3 = ($3) in pension expense column
Pension expense = $62 + 49 ? 68 + 7 ? 3 = $47

The Following Incomplete (Columns Have Missing Amounts) Pension Spreadsheet Is