Alpha Corp sponsors a defined benefit pension plan for its employees. On January 1,2012 the following balances relate to this plan: Plan assets Projected benefit obligations Accumulated OCI from Prior Service Cost (PSC) As a result of the operation of the plan during 2012, the following data are provided by the actuary. Service cost for 2012 Settlement rate Actual return on plan assets in 2012 Amortization of prior service cost Contributions 2012 Benefits paid to retirees in 2012 Required a. Prepare a pension worksheet for 2021 $5,495,000 6,275,000 620,000 325,000 10% 610,000 49,000 415,000 385,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Alpha Corp sponsors a defined benefit pension plan for its employees.
On January 1,2012 the following balances relate to this plan:
Plan assets
Projected benefit obligations
Accumulated OCI from Prior Service Cost (PSC)
As a result of the operation of the plan during 2012, the following data are
provided by the actuary.
Service cost for 2012
Settlement rate
Actual return on plan assets in 2012
Amortization of prior service cost
Contributions 2012
Benefits paid to retirees in 2012
Required
a. Prepare a pension worksheet for 2021
$5,495,000
6,275,000
620,000
325,000
10%
610,000
49.000
415,000
385,000
Transcribed Image Text:Alpha Corp sponsors a defined benefit pension plan for its employees. On January 1,2012 the following balances relate to this plan: Plan assets Projected benefit obligations Accumulated OCI from Prior Service Cost (PSC) As a result of the operation of the plan during 2012, the following data are provided by the actuary. Service cost for 2012 Settlement rate Actual return on plan assets in 2012 Amortization of prior service cost Contributions 2012 Benefits paid to retirees in 2012 Required a. Prepare a pension worksheet for 2021 $5,495,000 6,275,000 620,000 325,000 10% 610,000 49.000 415,000 385,000
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