(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.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 14E: Refer to the information provided in E19-13. Required: Using the years-of-future-service method,...

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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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Please Introduction and show work no plagiarism please
2 ($ in thousands) Discount rate, 7% Expected return on plan assets, 8% Actual return on plan assets, 7% Service cost, current year January 1, current year: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value)" Prior service cost- AOCI (current year amortization, $30) Net gain- AOCI (current year amortization, $12) There were no changes in actuarial assumptions. December 31, current year: Cash contributions to pension fund, December 31, current year Benefit payments to retirees, December 31, current year Required: 1. Determine pension expense for the current year. $ 500 3,250 2,950 3,350 420 520 435 460 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine pension expense for the current year. Note: Amounts to be deducted should be indicated with a minus sign.…
Given the following items and amounts, compute the actual return on plan assets: fair value of plan assets at the beginning of the period $9,200,000; benefits paid during the period $1,400,000; contributions made during the period $1,000,000; and fair value of the plan assets at the end of the period $10,150,000. O a. $ 1,250,000 O b. $ 1,350,000 $ 1,400,000 O d. $ 1,450,000
A Company provided the following information for the current year: Current service cost 500,000 Interest on PBO 600,000 Interest income on plan asset 350,000 Loss on settlement 250,000 Past service cost during the year 300,000 Actual return on plan asset 850,000 Actuarial loss during the year 200,000 Contribution to the plan 1,500,000 What is the total defined benefit cost?
Harms Inc. reported in its 2006 annual report the following informatio Plan Status: December 31, 2006 Accumulated Benefit Obligation (ABO) Projected Benefit Obligation (PBO) Plan Assets (at fair value) Unrecognized transition asset Unrecognized actuarial losses Assumptions: discount rate return on assets compensation growth Funded status at the end of 2006 was: SOM. $10M. $12M. $15M. $ 90 Million $95 Million $80 Million $ 11 Million $ 1 Million 8% 9% 5%
Please put all of the necessary information and computations for better understanding. Thank you.
55
T4.
Please show the solution.
Helping tags: Accounting, Intermediate Accounting . . . WILL UPVOTE, just pls help me answer it and show complete solutions. Thank you!
The answer is letter B (370,000. may i ask for a solution. thank you
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