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The accountant for Bramble Corporation has developed the following information for the company's defined-benefit pension plan for 2026: Service cost Actual return on plan assets $570,000 278,000 Annual contribution to the plan 948,000 Amortization of prior service cost 127,800 Benefits paid to retirees 74,000 Settlement rate 10% Expected rate of return on plan assets 8% The accumulated benefit obligation at December 31, 2026, amounted to $3,390,000. (a) Using the above information for Bramble Corporation, complete the pension worksheet for 2026.

The accountant for Bramble Corporation has developed the following information for the company's defined-benefit pension plan for 2026: Service cost Actual return on plan assets $570,000 278,000 Annual contribution to the plan 948,000 Amortization of prior service cost 127,800 Benefits paid to retirees 74,000 Settlement rate 10% Expected rate of return on plan assets 8% The accumulated benefit obligation at December 31, 2026, amounted to $3,390,000. (a) Using the above information for Bramble Corporation, complete the pension worksheet for 2026.

FINANCIAL ACCOUNTING
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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The accountant for Bramble Corporation has developed the following information for the company's defined-benefit pension plan for 2026: Service cost Actual return on plan assets $570,000 278,000 Annual contribution to the plan 948,000 Amortization of prior service cost 127,800 Benefits paid to retirees 74,000 Settlement rate 10% Expected rate of return on plan assets 8% The accumulated benefit obligation at December 31, 2026, amounted to $3,390,000. (a) Using the above information for Bramble Corporation, complete the pension worksheet for 2026.
Transcribed Image Text:The accountant for Bramble Corporation has developed the following information for the company's defined-benefit pension plan for 2026: Service cost Actual return on plan assets $570,000 278,000 Annual contribution to the plan 948,000 Amortization of prior service cost 127,800 Benefits paid to retirees 74,000 Settlement rate 10% Expected rate of return on plan assets 8% The accumulated benefit obligation at December 31, 2026, amounted to $3,390,000. (a) Using the above information for Bramble Corporation, complete the pension worksheet for 2026.
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