(a) Compute pension expense for the year 2025. Pension expense for 2025 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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
Transcribed Image Text:The following information is available for the pension plan of Cullumber Company for the year 2025.
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, 2025
Service cost
(a)
Compute pension expense for the year 2025.
Pension expense for 2025
$15,500
38,300
88,400
9%
8,500
550,000
61,100
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
Transcribed Image Text:Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2025. (Credit account
titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account
titles and enter o for the amounts. List all debit entries before credit entries.)
Account Titles and Explanation
Debit
Credit
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