Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2012 and 2013. 2012 2013 Plan assets (fair value),

Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2012 and 2013.

2012

2013

Plan assets (fair value), December 31 $810,141 $983,991

Projected benefit obligation, January 1 811,300 927,200

Pension asset/liability, January 1 162,260 Cr. ?

Prior service cost, January 1 289,750 278,160

Service cost 69,540 104,310

Actual and expected return on plan assets 27,816 34,770

Amortization of prior service cost 11,590 13,908

Contributions (funding) 133,285 139,080

Accumulated benefit obligation, December 31 579,500 637,450

Interest/settlement rate 9 % 9 %

(a)

Compute pension expense for 2012 and 2013.

Pension expense for 2012

$

Pension expense for 2013

$

Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2012 and 2013.

2012

2013

Plan assets (fair value), December 31 $810,141 $983,991

Projected benefit obligation, January 1 811,300 927,200

Pension asset/liability, January 1 162,260 Cr. ?

Prior service cost, January 1 289,750 278,160

Service cost 69,540 104,310

Actual and expected return on plan assets 27,816 34,770

Amortization of prior service cost 11,590 13,908

Contributions (funding) 133,285 139,080

Accumulated benefit obligation, December 31 579,500 637,450

Interest/settlement rate 9 % 9 %

(a)

Compute pension expense for 2012 and 2013.

Pension expense for 2012

$

Pension expense for 2013

$

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