COLLEGE ACCT.,CH.1-15-CENGAGENOW(2TERM)
COLLEGE ACCT.,CH.1-15-CENGAGENOW(2TERM)
23rd Edition
ISBN: 9781337913393
Author: HEINTZ
Publisher: CENGAGE L
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Chapter 9, Problem 9SPB

1.

To determine

Calculate the estimated workers’ compensation insurance premium and prepare the journal entry for the payment as of January 2, 20--.

2.

To determine

Calculate the total insurance premium owed and prepare a journal entry as of December 31, 20--.

3.

To determine

Prepare a journal entry as of December 31, 20--, for the total amount that should be refunded.

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Crane Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about t                                                                    January 1, 2025                  December 31, 2025 Vested benefit obligation                               $1,560                                $2,010 Accumulated benefit obligation                      2,010                                 2,820 Projected benefit obligation                           2,260                                 3,630 Plan assets (fair value)                                    1,540                                  2,560 Settlement rate and expect rate of return                                                  10% Pension asset/liability                                       720                                        ?   Service cost for the year 2025 $400 Contributions (funding in 2025) 730 Benefits paid in 2025  200 (a)Compute the actual return on the plan assets in…

Chapter 9 Solutions

COLLEGE ACCT.,CH.1-15-CENGAGENOW(2TERM)

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