Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. ItemsBalance, Jan. 1, 2025(a) Service Cost(b) Interest Cost(c) Actual Return(d) Contributions(e) BenefitsJournal Entry for 2025Balance, Dec. 31, 2025$60000$61000O $82000$48000General Journal EntriesAnnual PensionExpenseSunland IndustriesPension Worksheet$61000 dr33000 dr34000 crCash$48000 cr$60000 dr $48000 crWhat amount of benefits were paid during 2025?Pension Asset/Liability$20000 dr12000 cr$8000 drMemo RecordProjected BenefitObligation$258000 cr $278000 dr61000 cr33000 cr?? dr??PlanAssets34000 dr48000 dr??$278000cr

These are the financial or non-financial advantages to the employees those are retired from…

Answered: What amount of benefits were paid…

Business

Accounting

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

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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Question

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Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.

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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