Pen Fen Corp has a defined benefit pension expense plan for its
employees. In the year ended Dec 31, 2019, Pen Fen gathered the
following information ( the company uses ASPE)
Contributions
.........................................................
$500,000
Expected & Actual Return on Plan Assets ....... 10%
Interest rate on Obligations ................................
12%
Service costs relating to past services .............
$100,000
Actuarial Loss
.......................................................
$40,000
Current Service costs
.......................................... $630,000
DBO – Jan 1
,2019................................................ $720,000
FV Plan Assets – Jan 1 , 2019...............................