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The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) HORSE INC. orksheet-2025 Pension Asset/ Liability 12740 Cr. +A $ Memo Record Projected Benefit Plan Obligation Assets Cr. Cr. Cr. Dr. $ +A Dr. Dr. Dr. Cr. 12740 Cr. $ Cr. $ Dr. The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Balance, January 1, 2025 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Balance, December 31, 2025 Annual Pension Expense Dr. 40040 Dr. Cr. $ WILDHO Pension Wor General Journal Entries Cash $ [ [ [ 25600 Cr. [ [ 40040 Dr. $ 25600 Cr. ✓ U +A $

The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) HORSE INC. orksheet-2025 Pension Asset/ Liability 12740 Cr. +A $ Memo Record Projected Benefit Plan Obligation Assets Cr. Cr. Cr. Dr. $ +A Dr. Dr. Dr. Cr. 12740 Cr. $ Cr. $ Dr. The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Balance, January 1, 2025 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Balance, December 31, 2025 Annual Pension Expense Dr. 40040 Dr. Cr. $ WILDHO Pension Wor General Journal Entries Cash $ [ [ [ 25600 Cr. [ [ 40040 Dr. $ 25600 Cr. ✓ U +A $

Intermediate Accounting: Reporting And Analysis
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 6MC
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The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) HORSE INC. orksheet-2025 Pension Asset/ Liability 12740 Cr. +A $ Memo Record Projected Benefit Plan Obligation Assets Cr. Cr. Cr. Dr. $ +A Dr. Dr. Dr. Cr. 12740 Cr. $ Cr. $ Dr.
Transcribed Image Text:The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) HORSE INC. orksheet-2025 Pension Asset/ Liability 12740 Cr. +A $ Memo Record Projected Benefit Plan Obligation Assets Cr. Cr. Cr. Dr. $ +A Dr. Dr. Dr. Cr. 12740 Cr. $ Cr. $ Dr.
The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Balance, January 1, 2025 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Balance, December 31, 2025 Annual Pension Expense Dr. 40040 Dr. Cr. $ WILDHO Pension Wor General Journal Entries Cash $ [ [ [ 25600 Cr. [ [ 40040 Dr. $ 25600 Cr. ✓ U +A $
Transcribed Image Text:The following facts apply to the pension plan of Wildhorse Inc. for the year 2025. Plan assets, January 1, 2025 $500,500 Projected benefit obligation, January 1, 2025 500,500 Settlement rate 8% Service cost 43,600 Contributions (funding) 25,600 Actual and expected return on plan assets 45,300 Benefits paid to retirees 35,100 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Balance, January 1, 2025 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Balance, December 31, 2025 Annual Pension Expense Dr. 40040 Dr. Cr. $ WILDHO Pension Wor General Journal Entries Cash $ [ [ [ 25600 Cr. [ [ 40040 Dr. $ 25600 Cr. ✓ U +A $
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