The following information for Cooper Enterprises is given below: There were no actuarial gains or losses at January 1, 2015. The average remaining service life of employees is 10 years. What is the pension expense that Cooper Enterprises should report for 2015? Solution Pension Expenses to be reported for the Year 2015 Cooper Enterprises Particulars Amount ($) Plan Assets ( Fair Value) 400,000 Add: Contributions 240,000 Less: Accumulated Other Comprehensive Loss 335,800 Less; Pension Assets at Jan 1, 2015 20,000 Pension Expense for Year 2015 284,200 ( Note .

1. The following information for Cooper Enterprises is given below:
There were no actuarial gains or losses at January 1, 2015. The average remaining service life of
employees is 10 years.
What is the pension expense that Cooper Enterprises should report for 2015?
December 31, 2015
Assets and obligations
Plan assets (at fair value) $400,000
Accumulated benefit obligation 740,000
Projected benefit obligation 800,000
Other Items
Pension asset, January 1, 2015 20,000
Contributions 240,000
Accumulated other comprehensive loss 335,800
Solution
Pension Expenses to be reported for the Year 2015
Cooper Enterprises
Particulars
Amount ($)
Plan Assets ( Fair Value)
400,000
Add: Contributions

2. 240,000
Less: Accumulated Other Comprehensive Loss
335,800
Less; Pension Assets at Jan 1, 2015
20,000
Pension Expense for Year 2015
284,200
( Note
Particulars Amount ($)
Plan Assets ( Fair Value) 400,000
Add: Contributions 240,000
Less: Accumulated Other Comprehensive Loss 335,800
Less; Pension Assets at Jan 1, 2015 20,000
Pension Expense for Year 2015 284,200