At January 1, 2017, Flint Company had plan assets of $254,500
and a projected benefit obligation of the same amount. During 2017,
service cost was $26,600, the settlement rate was 10%, actual and
expected return on plan assets were $24,500, contributions were
$20,800, and benefits paid were $16,800.
Prepare a pension worksheet for Flint Company for 2017.
FLINT COMPANY |
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General Journal Entries |
Memo Record |
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Items |
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Pension |
Projected |
Plan |
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1/1/17 | $ |
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$ |
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$ |
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$ |
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$ |
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Service cost |
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Interest cost |
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Actual return |
Dr.Cr. |
Dr.Cr. |
Dr.Cr. |
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Contributions |
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Benefits |
Dr.Cr. |
Dr.Cr. |
Dr.Cr. |
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Journal entry, 12/31/17 | $ |
Dr.Cr. |
$ |
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Balance, 12/31/17 | $ |
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$ |
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$ |
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At January 1, 2017, Flint Company had plan assets of $254,500 and a projected benefit obligation...
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