Current Attempt in Progress Pharoah Company provides the following selected information related to its defined benet pension plan for 2025 Pension anset/ahity Uanuary 1) Accumulated benet obligation December 31) Actual and expected return on plan assets Contributions Munding in 2025 Fair value of plan asets (December 21 Settlement rate Projected benefit obligation (anuary 1 Service cost $24.700 402.500 7400 150.200. 799.300 10% 496.500 79.930
Current Attempt in Progress Pharoah Company provides the following selected information related to its defined benet pension plan for 2025 Pension anset/ahity Uanuary 1) Accumulated benet obligation December 31) Actual and expected return on plan assets Contributions Munding in 2025 Fair value of plan asets (December 21 Settlement rate Projected benefit obligation (anuary 1 Service cost $24.700 402.500 7400 150.200. 799.300 10% 496.500 79.930
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Ss.239.

Transcribed Image Text:(a2)
Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2025. Preparation of
a pension worksheet is not required. Benefits paid in 2025 were $32,100. (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
eTextbook and Media
Debit
Credit

Transcribed Image Text:Current Attempt in Progress
Pharoah Company provides the following selected information related to its defined benefit pension plan for 2025
Pension asset/fiability Uanuary 11
Accumulated beneht obligation (December 313
Actual and expected return on plan assets
Contributions unding in 2025
Fair value of plan ansets (December 211
Settlement rate
Projected benefit obligation (January 1
Service cost
(2)
Compute prin expanse
Pension expers for 2025
eTextbook and Media
List of Accounts
Ab
$24.700 C
402.500
7400
150.200.
799.300
10%
696,500
79,930
Attemats unlimited
Sho
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