Presented below is information related to Eliza Department Stores, Inc. pension plan for 2020. Plan Assets...
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Presented below is information related to Eliza Department Stores, Inc. pension plan for 2020. Plan Assets (Fair Value), January 1 Projected Benefit Obligation, January 1 Prior Service Cost, January 1 OCI - Loss, January 1 Service Cost Settlement Rate (after actuarial adjustment) Actual Return on Plan Assets Expected Return on Plan Assets Pension Contributions by Core Benefits paid during the year Accumulated benefit obligation at December 31 Average remaining service life of all employees (years) Vested benefit obligation at December 31 Instructions Prepare the pension journal entries for 2020. Presented below is information related to Angelica Department Stores, Inc. pension plan for 2020. Plan Assets (Fair Value), January 1 Projected Benefit Obligation, January 1 Prior Service Cost, January 1 OCI - Loss, January 1 Service Cost Settlement Rate (after actuarial adjustment) Actual Return on Plan Assets At the beginning of 2020, the actuary determined that due to changes in market returns, leading to changes in the expected settlement rates, the projected benefit obligation should increase by $227,000. Expected Return on Plan Assets Pension Contributions by Core Benefits paid during the year Accumulated benefit obligation at December 31 Average remaining service life of all employees (years) Vested benefit obligation at December 31 799,000 900,000 27,000 25,000 105,000 7% Instructions Prepare the pension journal entries for 2020. 64,500 9% 240,000 89,000 639,600 18 668,000 875,000 982,000 34,000 21,000 110,000 8% 76,500 10% 265,000 93,000 745,530 21 713,000 At the beginning of 2020, the actuary determined that due to changes in market returns, leading to changes in the expected settlement rates, the projected benefit obligation should increase by $274,000. Presented below is information related to Eliza Department Stores, Inc. pension plan for 2020. Plan Assets (Fair Value), January 1 Projected Benefit Obligation, January 1 Prior Service Cost, January 1 OCI - Loss, January 1 Service Cost Settlement Rate (after actuarial adjustment) Actual Return on Plan Assets Expected Return on Plan Assets Pension Contributions by Core Benefits paid during the year Accumulated benefit obligation at December 31 Average remaining service life of all employees (years) Vested benefit obligation at December 31 Instructions Prepare the pension journal entries for 2020. Presented below is information related to Angelica Department Stores, Inc. pension plan for 2020. Plan Assets (Fair Value), January 1 Projected Benefit Obligation, January 1 Prior Service Cost, January 1 OCI - Loss, January 1 Service Cost Settlement Rate (after actuarial adjustment) Actual Return on Plan Assets At the beginning of 2020, the actuary determined that due to changes in market returns, leading to changes in the expected settlement rates, the projected benefit obligation should increase by $227,000. Expected Return on Plan Assets Pension Contributions by Core Benefits paid during the year Accumulated benefit obligation at December 31 Average remaining service life of all employees (years) Vested benefit obligation at December 31 799,000 900,000 27,000 25,000 105,000 7% Instructions Prepare the pension journal entries for 2020. 64,500 9% 240,000 89,000 639,600 18 668,000 875,000 982,000 34,000 21,000 110,000 8% 76,500 10% 265,000 93,000 745,530 21 713,000 At the beginning of 2020, the actuary determined that due to changes in market returns, leading to changes in the expected settlement rates, the projected benefit obligation should increase by $274,000.
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Prepare the pension journal entries for 2020 Pension journal entries for 2020 Service cost 105090 Be... View the full answer
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date:
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