Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $202,600 for the quarter ended December 31. a. Journalize the entry to record the accrued pension liability on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 fill in the blank 8e0c7804f03b03e_2 fill in the blank 8e0c7804f03b03e_3 fill in the blank 8e0c7804f03b03e_5 fill in the blank 8e0c7804f03b03e_6 Journalize the entry to record the accrued pension liability payment to the funding agent on January 15. If an amount box does not require an entry, leave it blank. Jan. 15 fill in the blank fa81bdfad054032_2 fill in the blank fa81bdfad054032_3 fill in the blank fa81bdfad054032_5 fill in the blank fa81bdfad054032_6
Pension Plan Entries
Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $202,600 for the quarter ended December 31.
a.
| Dec. 31 | fill in the blank 8e0c7804f03b03e_2 | fill in the blank 8e0c7804f03b03e_3 | |
| fill in the blank 8e0c7804f03b03e_5 | fill in the blank 8e0c7804f03b03e_6 |
Journalize the entry to record the accrued pension liability payment to the funding agent on January 15. If an amount box does not require an entry, leave it blank.
| Jan. 15 | fill in the blank fa81bdfad054032_2 | fill in the blank fa81bdfad054032_3 | |
| fill in the blank fa81bdfad054032_5 | fill in the blank fa81bdfad054032_6 |
b. The pension plan where a company pays the employee a fixed annual amount based on a formula is a
Yuri Co.'s
Maintains a defined contribution pension plan for its employees.
Plan maintains the quarterly installments paid to funding agent, Whims funds.
Pension cost for quarter ended 31.12 = $202600
The amount is paid to funding agent on 15th of the following end of the quarter.
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