(L01,2,3) EXCEL (Basic Pension Worksheet) The following defined pension data of Rydell Corp. apply to the year...
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(L01,2,3) EXCEL (Basic Pension Worksheet) The following defined pension data of Rydell Corp. apply to the year 2017.
Projected benefi t obligation, 1/1/17 (before amendment) $560,000 Plan assets, 1/1/17 546,200 Pension liability 13,800 On January 1, 2017, Rydell Corp., through plan amendment, grants prior service benefi ts having a present value of 120,000 Settlement rate 9%
Service cost 58,000 Contributions (funding) 65,000 Actual (expected) return on plan assets 52,280 Benefi ts paid to retirees 40,000 Prior service cost amortization for 2017 17,000 Instructions For 2017, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts.
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