Tamarisk Company provides the following information about its defined benefit pension plan for the year 202 Service cost $90,900 Contribution to the plan 103,000 Prior service cost amortization 9,300 Actual and expected return on plan assets Benefits paid 63,200 39,800 Plan assets at January 1, 2020 648,600 Projected benefit obligation at January 1, 2020 Accumulated OCI (PSC) at January 1, 2020 706,600 148,800 Interest/discount (settlement) 10 % rate Using Excel prepare a pension worksheet for 2020 and the December 31, 2020 pension journal entry.

Tamarisk Company provides the following information about its defined benefit pension plan for the year 202 Service cost $90,900 Contribution to the plan 103,000 Prior service cost amortization 9,300 Actual and expected return on plan assets Benefits paid 63,200 39,800 Plan assets at January 1, 2020 648,600 Projected benefit obligation at January 1, 2020 Accumulated OCI (PSC) at January 1, 2020 706,600 148,800 Interest/discount (settlement) 10 % rate Using Excel prepare a pension worksheet for 2020 and the December 31, 2020 pension journal entry.

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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