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10. The pension worksheet for Dillon Company is shown below. Dillon Company Pension Worksheet General Journal Entries I Memo Record Annual Pension Items Balance, Jan 1, 2025 Expense Cash Pension Asset/ Liability ?? Projected Benefit Obligation Plan Assets $ 150,000 cr $ 120,000 dr (a) Service Cost $ 35,000 dr 35,000 cr (b) Interest Cost (c) Actual Return 15,000 dr 12,000 cr 15,000 cr 12,000 dr (d) Contributions (e) Benefits $ 40,000 cr 40,000 dr 10,000 dr 10,000 cr Journal Entry for 2025 $ 38,000 dr $ 40,000 cr Balance, Dec 31, 2025 ?? ?? ?? What is the Pension Asset/Liability balance on December 31, 2025? a. $28,000 Liability b. $28,000 Asset c. $30,000 Liability d. $30,000 Asset

10. The pension worksheet for Dillon Company is shown below. Dillon Company Pension Worksheet General Journal Entries I Memo Record Annual Pension Items Balance, Jan 1, 2025 Expense Cash Pension Asset/ Liability ?? Projected Benefit Obligation Plan Assets $ 150,000 cr $ 120,000 dr (a) Service Cost $ 35,000 dr 35,000 cr (b) Interest Cost (c) Actual Return 15,000 dr 12,000 cr 15,000 cr 12,000 dr (d) Contributions (e) Benefits $ 40,000 cr 40,000 dr 10,000 dr 10,000 cr Journal Entry for 2025 $ 38,000 dr $ 40,000 cr Balance, Dec 31, 2025 ?? ?? ?? What is the Pension Asset/Liability balance on December 31, 2025? a. $28,000 Liability b. $28,000 Asset c. $30,000 Liability d. $30,000 Asset

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: The Basic Tools Of Finance
Section: Chapter Questions
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10. The pension worksheet for Dillon Company is shown below. Dillon Company Pension Worksheet General Journal Entries I Memo Record Annual Pension Items Balance, Jan 1, 2025 Expense Cash Pension Asset/ Liability ?? Projected Benefit Obligation Plan Assets $ 150,000 cr $ 120,000 dr (a) Service Cost $ 35,000 dr 35,000 cr (b) Interest Cost (c) Actual Return 15,000 dr 12,000 cr 15,000 cr 12,000 dr (d) Contributions (e) Benefits $ 40,000 cr 40,000 dr 10,000 dr 10,000 cr Journal Entry for 2025 $ 38,000 dr $ 40,000 cr Balance, Dec 31, 2025 ?? ?? ?? What is the Pension Asset/Liability balance on December 31, 2025? a. $28,000 Liability b. $28,000 Asset c. $30,000 Liability d. $30,000 Asset
Transcribed Image Text:10. The pension worksheet for Dillon Company is shown below. Dillon Company Pension Worksheet General Journal Entries I Memo Record Annual Pension Items Balance, Jan 1, 2025 Expense Cash Pension Asset/ Liability ?? Projected Benefit Obligation Plan Assets $ 150,000 cr $ 120,000 dr (a) Service Cost $ 35,000 dr 35,000 cr (b) Interest Cost (c) Actual Return 15,000 dr 12,000 cr 15,000 cr 12,000 dr (d) Contributions (e) Benefits $ 40,000 cr 40,000 dr 10,000 dr 10,000 cr Journal Entry for 2025 $ 38,000 dr $ 40,000 cr Balance, Dec 31, 2025 ?? ?? ?? What is the Pension Asset/Liability balance on December 31, 2025? a. $28,000 Liability b. $28,000 Asset c. $30,000 Liability d. $30,000 Asset
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