Question
Assume the following pension data for year 2019: Service cost $105,000 Contribution $90,000 Actual return $70,000 Benefits $40,000 Plan assets 1/1/19 $700,000 PBO 1/1/19 $810,000
Assume the following pension data for year 2019:
Service cost $105,000
Contribution $90,000
Actual return $70,000
Benefits $40,000
Plan assets 1/1/19 $700,000
PBO 1/1/19 $810,000
Interest rate 10%
- Compute pension expense, PBO 12/31/19 and PA 12/31/19.
Show computations (I recommend a worksheet).
Prepare separate journal entries for
- Pension expense
- Cash contribution
- Benefits paid
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Business Analysis With Microsoft Excel
Authors: Conrad Carlberg
3rd Edition
0789736640, 9780789736642
