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1. Using the following information, determine the appropriate journal entry for both 20x1. Service cost Settlement Rate Actual Return on Plan Assets Expected Return
1. Using the following information, determine the appropriate journal entry for both 20x1. Service cost Settlement Rate Actual Return on Plan Assets Expected Return on Plan Assets Average remaining service life Contributions Benefits Paid Actuarial adj. of PBO Beginning balances of G/L as of 20x1 Pension Asset/Liability 20x1 $15,000 10% $5,000 8% 20 years $10,000 $9,000 -$5,000 AOCI - Prior Service Cost AOCI Gain or Loss Beginning Balances in memo accts 20x1 Plan Assets Projected Benefit Obligation General Ledger Journal Entry (Do WS first on next page) 20,000 Cr. 50,000 Dr. 70,000 Dr. 300,000 Dr. 320,000 Cr.
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