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all of Q3 What entry or entries, if any, would you recommend be made? (d). The government bonds were sold on July 1, 2020, for
all of Q3
What entry or entries, if any, would you recommend be made? (d). The government bonds were sold on July 1, 2020, for $119,200 plus accrued interest. Give the proper entry. Q3 - Haider plc sponsors a defined benefit plan for its 100 employees. On January 1, 2019, the company's actuary provided the following information. Pension plan assets (fair value and market-related asset value) 200,000 Accumulated benefit obligation 260,000 Defined benefit obligation 380,000 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2019, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to 52,000; the defined benefit obligation was 490,000, fair value of pension assets was 276,000, and the accumulated benefit obligation amounted to 365,000. The discount (interest) rate is 10%. The actual return on plan assets is 11,000. The company's current year's contribution to the pension plan amounted to 65,000. No benefits were paid during the year. Instructions Determine the components of pension expense that the company would recognize in 2019. (With only one year involved, you need not prepare a worksheet.) Step by Step Solution
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