Using the information in E20.2, prepare a pension worksheet inserting January 1, 2019, balances, showing December 31,
Question:
Using the information in E20.2, prepare a pension worksheet inserting January 1, 2019, balances, showing December 31, 2019, balances, and the journal entry recording pension expense.
Service cost..............................................................................€ 90,000
Contribution to the plan.........................................................105,000
Benefits paid..............................................................................40,000
Plan assets at January 1, 2019..............................................640,000
Defined benefit obligation at January 1, 2019....................700,000
Discount (interest) rate................................................................10%
Step by Step Answer:
VELDRE SpA Pension Worksheet2019 General Journal Entries Mem...View the full answer
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
