The following information is available for the pension plan of Wildhorse Company for the year 2025.Actual and expected return on plan assetsBenefits paid to retirees$14,00041,500Contributions (funding)94,400Interest/discount rate10%Prior service cost amortization7,800Projected benefit obligation, January 1, 2025479,000Service cost62,500(a)Your answer is correct.Compute pension expense for the year 2025.(b)Pension expense for 2025eTextbook and MediaSolutionList of AccountsYour answer is incorrect.104200 iAssistance UsedAttempts: unlimitedPrepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2025. (Credit accounttitles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the accounttitles and enter O for the amounts. List all debit entries before credit entries.)Account Titles and ExplanationDebitCredit

A. Pension expense for 2025ParticularAmountService cost62,500Interest cost47,900Actual and expected…

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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 4E

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The following information is available for the pension plan of Cullumber Company for the year 2025. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2025 Service cost (a) Compute pension expense for the year 2025. Pension expense for 2025 $15,500 38,300 88,400 9% 8,500 550,000 61,100
The following information is available for the pension plan of Carla Vista Company for the year 2025. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2025 Service cost (a) Compute pension expense for the Pension expense for 2025 $ year 2025. $14,900 42,000 83,300 9% 7,700 511,000 55,100
The following information is available for the pension plan of Carla Vista Company for the year 2025. Actual and expected return on plan assets Benefits paid to retirees Contributions (funding) Interest/discount rate Prior service cost amortization Projected benefit obligation, January 1, 2025 Service cost (a) Compute pension expense for the year 2025. $13,800 40,000 91,300 9% 8,200 496,000 65,400
The following information is available for the pension plan of Pharoah Company for the year 2025. Actual and expected return on plan assets Benefits paid to retirees $13,800 38,400 Contributions (funding) Interest/discount rate 79,900 10% Prior service cost amortization 7,800 Projected benefit obligation, January 1, 2025 452,000 Service cost 54,700 (a) Your answer is correct. Compute pension expense for the year 2025. Pension expense for 2025 eTextbook and Media List of Accounts 93900 i Attemp (b) Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2025. (C titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit
The following information is available for the pension plan of Wildhorse Company for the year 2020. Actual and expected return on plan assets $ 15,800 Benefits paid to retirees 39,500 Contributions (funding) 88,700 Interest/discount rate 11 % Prior service cost amortization 7,600 Projected benefit obligation, January 1, 2020 548,000 Service cost 60,000 (a) Correct answer icon Your answer is correct. Compute pension expense for the year 2020. Pension expense for 2020 $enter pension expense for 2017 in dollars eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account…
The following facts apply to the pension plan of Cullumber Inc. for the year 2025. Plan assets, January 1, 2025 Projected benefit obligation, January 1, 2025 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees Items Balance, January 1, 2025 $490,400 490,400 Using this data, compute pension expense for the year 2025. As part of your solution, prepare a perision 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) Service cost 8% 38,500 27,300 48.000 32.500 Annual Pension Expense General Journal Entries Cash CULLUMBE Pension Works!
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A partial pension worksheet for Sunland Corporation is shown below. Items Balance, Jan. 1, 2025 (a) Service Cost (b) Interest Cost (c) Actual Return (d) Contributions (e) Benefits Journal Entry for 2025 Balance, Dec. 31, 2025 Annual Pension Expense The service cost for 2025 is ?? General Journal Entries $69000 dr 28000 dr 29000 cr Sunland Corporation Pension Worksheet Cash $69000 cr ?? Pension Asset/ Liability $- ?? Memo Record Projected Benefit Obligation $128000 cr $128000 dr ?? Plan Assets ??
Wildhorse Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2025 Projected benefit obligation at January 1, 2025 Accumulated OCI (PSC) at January 1, 2025 Interest/discount (settlement) rate Compute the pension expense for the year 2025. Pension expense for 2025 $89,400 105,700 10,800 64,500 40,200 640,200 710,100 152,200 10%
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.
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