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What amount of benefits were paid during 2025? $60000 O $61000 $82000 O $48000

What amount of benefits were paid during 2025? $60000 O $61000 $82000 O $48000

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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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 $60000 $61000 O $82000 $48000 General Journal Entries Annual Pension Expense Sunland Industries Pension Worksheet $61000 dr 33000 dr 34000 cr Cash $48000 cr $60000 dr $48000 cr What amount of benefits were paid during 2025? Pension Asset/ Liability $20000 dr 12000 cr $8000 dr Memo Record Projected Benefit Obligation $258000 cr $278000 dr 61000 cr 33000 cr ?? dr ?? Plan Assets 34000 dr 48000 dr ?? $278000 cr
Transcribed Image Text: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 $60000 $61000 O $82000 $48000 General Journal Entries Annual Pension Expense Sunland Industries Pension Worksheet $61000 dr 33000 dr 34000 cr Cash $48000 cr $60000 dr $48000 cr What amount of benefits were paid during 2025? Pension Asset/ Liability $20000 dr 12000 cr $8000 dr Memo Record Projected Benefit Obligation $258000 cr $278000 dr 61000 cr 33000 cr ?? dr ?? Plan Assets 34000 dr 48000 dr ?? $278000 cr
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