At January 1, 2025, Carla Vista Company had plan assets of $293,300 and a projected benefit obligation of the same amount. During 2025, service cost was $26,400, the settlement rate was 10%, actual and expected return on plan assets were $25,000, contributions were $20,400, and benefits paid were $17,600. Prepare a pension worksheet for Carla Vista for 2025. (Enter all amounts as positive.) Items Balance 1/1/25 Service cost Interest cost Actual return Contributions Benefits Journal entry Balance, 12/31/25 $ $ Pension Expense $ General Journal Entries Cash CARLA VISTA COMPANY $ $ Pension Asset/Liability V $ Projected Benefit Obligation Memo Record V $ $ Plan Assets V V V V v ▸
At January 1, 2025, Carla Vista Company had plan assets of $293,300 and a projected benefit obligation of the same amount. During 2025, service cost was $26,400, the settlement rate was 10%, actual and expected return on plan assets were $25,000, contributions were $20,400, and benefits paid were $17,600. Prepare a pension worksheet for Carla Vista for 2025. (Enter all amounts as positive.) Items Balance 1/1/25 Service cost Interest cost Actual return Contributions Benefits Journal entry Balance, 12/31/25 $ $ Pension Expense $ General Journal Entries Cash CARLA VISTA COMPANY $ $ Pension Asset/Liability V $ Projected Benefit Obligation Memo Record V $ $ Plan Assets V V V V v ▸
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please complete the worksheet below, also please select Dr. or Cr.
Transcribed Image Text:At January 1, 2025, Carla Vista Company had plan assets of $293,300 and a projected benefit obligation of the same amount. During 2025, service cost was $26,400, the settlement rate was 10%, actual and expected return on plan assets were $25,000,
contributions were $20,400, and benefits paid were $17,600.
Prepare a pension worksheet for Carla Vista for 2025. (Enter all amounts as positive.)
Items
Balance 1/1/25
Service cost
Interest cost
Actual return
Contributions
Benefits
Journal entry
Balance, 12/31/25
$
$
Pension
Expense
$
General Journal Entries
Cash
CARLA VISTA COMPANY
$
$
Pension
Asset/Liability
>
$
$
Projected
Benefit
Obligation
Memo Record
$
$
Plan
Assets
>
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