(3-Year Worksheet, Journal Entries, and Reporting) Katie Day Company adopts acceptable accounting for its defined benefit pension...
Question:
(3-Year Worksheet, Journal Entries, and Reporting) Katie Day Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2011, with the following beginning balances:
plan assets $200,000; projected benefit obligation $200,000. Other data relating to 3 years’ operation of the plan are as follows.
instructions
(a) Prepare a pension worksheet presenting all 3 years’ pension balances and activities.
(b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year.
(c) Indicate the pension-related amounts reported in the financial statements for 2013.
Step by Step Answer:
Intermediate Accounting 2007 FASB Update Volume 2
ISBN: 9780470128763
12th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield