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The following information is available for the pension plan of
Bramble Company for the year 2017.
Actual and expected return on plan assets
$ 14,200
Benefits paid to retirees
39,300
Contributions (funding)
92,900
Interest/discount rate
10
%
Prior service cost amortization
7,500
Projected benefit obligation, January 1, 2017
508,000
Service cost
56,900
Compute pension expense for the year 2017.
Pension expense for 2017
$
SHOW LIST OF ACCOUNTS
Prepare the journal entry to record pension expense and the
employer’s contribution...
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The following information is available for the pension plan of
Crane Company for the year 2017.
Actual and expected return on plan assets
$ 15,300
Benefits paid to retirees
41,500
Contributions (funding)
88,100
Interest/discount rate
10
%
Prior service cost amortization
7,700
Projected benefit obligation, January 1, 2017
496,000
Service cost
54,500
Compute pension expense for the year 2017.
Pension expense for 2017
$
SHOW LIST OF ACCOUNTS
Prepare the journal entry to record pension expense and the
employer’s contribution...
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*Exercise 20-1 The following information is available for the pension plan of Radcliffe Company for the year 2017 15,000 40,000 90,000 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost 1096 8,000 500,000 60,000 Compute pension expense for the year 2017 Pension expense for 2017 Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in...
-
A
B
The following information is available for the pension plan of Sunland Company for the year 2017. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $ 14,000 41,500 94,400 10 % 7,800 479,000 62,500 Compute pension expense for the year 2017. Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare the...
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The following information is available for the pension plan of
Riverbed company for the year 2017
Actual and expected return on plan assets..........$13,800
Benefits paid to retirees..........$36,000
Contributions (funding)..........$88,000
Interest/discount rate..........11%
Prior service cost amortization..........$7,900
Projected benefit obligation, January 1,
2017..........$502,000
Service cost..........$59,000
A. Compute pension expense for the year 2017 (show work):
$__________
B. Prepare the journal entry to record pension expense and the
employer's contribution to the pension plan in 2017 (using table
above)
Pension expense..........__________
Cash..........__________
Pension...
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The following information is available for the pension plan of Larkspur Company for the year 2017 $15,300 40,500 92,900 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost 11% 7,300 474,000 58,500 Your answer is correct Compute pension expense for the year 2017 Pension expense for 2017 902640 Attempts: 1 of 3 used Prepare the journal entry to record pension expense and...
-
* Question 2
Martinez Company received the following selected information
from its pension plan trustee concerning the operation of the
company’s defined benefit pension plan for the year ended December
31, 2020.
January 1, 2020
December 31, 2020
Projected benefit obligation
$1,488,000
$1,514,000
Market-related and fair value of plan assets
809,000
1,135,900
Accumulated benefit obligation
1,600,000
1,718,800
Accumulated OCI (G/L)—Net gain
0
(198,800
)
The service cost component of pension expense for employee services
rendered in the current year amounted...
-
Riverbed Company received the following selected information
from its pension plan trustee concerning the operation of the
company’s defined benefit pension plan for the year ended December
31, 2017.
January 1, 2017
December 31, 2017
Projected benefit obligation
$1,523,000
$1,550,000
Market-related and fair value of plan assets
794,000
1,128,400
Accumulated benefit obligation
1,597,000
1,716,400
Accumulated OCI (G/L)—Net gain
0
(202,300
)
The service cost component of pension expense for employee services
rendered in the current year amounted to $77,000 and...
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Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur Company for the year 2017 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2017 Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE...
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Exercise 20-4 The following facts apply to the pension plan of Coronado Inc. for the year 2017. Plan assets, January 1, 2017 $511,800 Projected benefit obligation, January 1, 2017 511,800 Settlement rate 8 % Service cost 36,500 Contributions (funding) 23,500 Actual and expected return on plan assets 50,300 Benefits paid to retirees 33,400 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension...
The following information is available for the pension plan of
Bramble Company for the year 2017.
Actual and expected return on plan assets
$ 14,200
Benefits paid to retirees
39,300
Contributions (funding)
92,900
Interest/discount rate
10
%
Prior service cost amortization
7,500
Projected benefit obligation, January 1, 2017
508,000
Service cost
56,900
Compute pension expense for the year 2017.
Pension expense for 2017
$
SHOW LIST OF ACCOUNTS
Prepare the journal entry to record pension expense and the
employer’s contribution...
The following information is available for the pension plan of
Crane Company for the year 2017.
Actual and expected return on plan assets
$ 15,300
Benefits paid to retirees
41,500
Contributions (funding)
88,100
Interest/discount rate
10
%
Prior service cost amortization
7,700
Projected benefit obligation, January 1, 2017
496,000
Service cost
54,500
Compute pension expense for the year 2017.
Pension expense for 2017
$
SHOW LIST OF ACCOUNTS
Prepare the journal entry to record pension expense and the
employer’s contribution...
*Exercise 20-1 The following information is available for the pension plan of Radcliffe Company for the year 2017 15,000 40,000 90,000 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost 1096 8,000 500,000 60,000 Compute pension expense for the year 2017 Pension expense for 2017 Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in...
A
B
The following information is available for the pension plan of Sunland Company for the year 2017. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $ 14,000 41,500 94,400 10 % 7,800 479,000 62,500 Compute pension expense for the year 2017. Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare the...
The following information is available for the pension plan of Larkspur Company for the year 2017 $15,300 40,500 92,900 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost 11% 7,300 474,000 58,500 Your answer is correct Compute pension expense for the year 2017 Pension expense for 2017 902640 Attempts: 1 of 3 used Prepare the journal entry to record pension expense and...
* Question 2
Martinez Company received the following selected information
from its pension plan trustee concerning the operation of the
company’s defined benefit pension plan for the year ended December
31, 2020.
January 1, 2020
December 31, 2020
Projected benefit obligation
$1,488,000
$1,514,000
Market-related and fair value of plan assets
809,000
1,135,900
Accumulated benefit obligation
1,600,000
1,718,800
Accumulated OCI (G/L)—Net gain
0
(198,800
)
The service cost component of pension expense for employee services
rendered in the current year amounted...
Riverbed Company received the following selected information
from its pension plan trustee concerning the operation of the
company’s defined benefit pension plan for the year ended December
31, 2017.
January 1, 2017
December 31, 2017
Projected benefit obligation
$1,523,000
$1,550,000
Market-related and fair value of plan assets
794,000
1,128,400
Accumulated benefit obligation
1,597,000
1,716,400
Accumulated OCI (G/L)—Net gain
0
(202,300
)
The service cost component of pension expense for employee services
rendered in the current year amounted to $77,000 and...
Exercise 20-1 (Part Level Submission) The following information is available for the pension plan of Larkspur Company for the year 2017 Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2017 Service cost $15,300 40,500 92,900 11 % 7,300 474,000 58,500 Compute pension expense for the year 2017 Pension expense for 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE...
Exercise 20-4 The following facts apply to the pension plan of Coronado Inc. for the year 2017. Plan assets, January 1, 2017 $511,800 Projected benefit obligation, January 1, 2017 511,800 Settlement rate 8 % Service cost 36,500 Contributions (funding) 23,500 Actual and expected return on plan assets 50,300 Benefits paid to retirees 33,400 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension...