(answer in text form please (without image), Note: .Every entry should have narration please) Service costContribution to the plan$91,200104,700Prior service cost amortization9,800Actual and expected return on plan assets62,800Benefits paid40,500Plan assets at January 1, 2025632,600Projected benefit obligation at January 1, 2025686,700Accumulated OCI (PSC) at January 1, 2025152,100Interest/discount (settlement) rate9%(a)Your answer is partially correct.Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31, 2025. (Enter all amounts as positive.)

Pension Expense-"Pension Expense" is the business expenses in relation to the employees that were…

Answered: Prepare a pension worksheet inserting…

Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31, 2025. (Enter all amounts as positive.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

(answer in text form please (without image), Note: .Every entry should have narration please)

Service cost
Contribution to the plan
$91,200
104,700
Prior service cost amortization
9,800
Actual and expected return on plan assets
62,800
Benefits paid
40,500
Plan assets at January 1, 2025
632,600
Projected benefit obligation at January 1, 2025
686,700
Accumulated OCI (PSC) at January 1, 2025
152,100
Interest/discount (settlement) rate
9%
(a)
Your answer is partially correct.
Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31, 2025. (Enter all amounts as positive.)

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