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1. Compute the amount of Robey's pension expense for 2019. 2b. Assume Robey Company funds the pension plan in the amount of $107,000. Prepare the

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed 1. Compute the amount of Robey's pension expense for 2019. 2b. Assume Robey Company funds the pension plan in the amount of $107,000. Prepare the entries to record the pension expense for 2019 on December 31 and the amortized prior service cost for 2019 on December 31. General Journal Instructions 2a. Assume Robey Company funds the pension plan in the amount of $108,000. Prepare the entries to record the pension expense for 2019 on December 31 and the amortized prior service ost for 2019 on December 31. General Journal Instructions On December 31, 2019, Robey Company accumulated the following information for 2019 in regard to its defined benefit pension plan: On its December 31,2018 , balance sheet, Robey had reported an accrued/prepaid pension cost liability of $14,000. Required: 1. Compute the amount of Robey's pension expense for 2019. 2. Prepare all the journal entries related to Robey's pension plan for 2019 if it funds the pension plan in the amount of (a) $108,000, (b) $107,000, and (c) $112,000. 3. Next Level Assuming Robey's beginning 2019 Accumulated Other Comprehensive Income: Prior Service Cost balance was $60,000 what would be its ending balance? 4. Next Level How much would Robey need to fund its pension plan for 2019 in order to report an accrued/ prepaid pension cost asset of $5,000 at the end of 2019? 2c. Assume Robey Company funds the pension plan in the amount of $112,000. Prepare the entries to record the pension expense for 2019 on December 31 and the amortized prior service cost for 2019 on December 31. 3. Assuming Robey's beginning 2019 Accumulated Other Comprehensive Income: Prior Service Cost balance was $60,000 what would be its ending balance? 4. How much would Robey need to fund its pension plan for 2019 in order to report an accrued/ prepaid pension cost asset of $5,000 at the end of 2019 ? Chart of Accounts ASSETS REVENUE 111 Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 198 Accumulated Depreciation LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable 411 Sales Revenue EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 522 Pension Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 910 Income Tax Expense EQUITY 311 Common Stock 331 Retained Earnings

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