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E20-2 (Computation of Pension Expense) Veldre Company provides the following information about its defined benefit pension plan for the year 2014.
Service cost $ 90,000
Contribution to the plan 105,000
Prior service cost amortization 10,000
Actual and expected return on plan assets 64,000
Benefi ts paid 40,000
Plan assets at January 1, 2014 640,000
Projected benefi t obligation at January 1, 2014 700,000
Accumulated OCI (PSC) at January 1, 2014 150,000
Interest/discount (settlement) rate 10%
Instructions
Compute the pension expense for the year 2014.

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