Question
Assume the following pension data for year 2019: Service cost $80,000 Contribution $105,000 Actual return $64,000 Benefits $40,000 Plan assets 1/1/19 $640,000 PBO 1/1/19 $880,000
Assume the following pension data for year 2019:
Service cost $80,000
Contribution $105,000
Actual return $64,000
Benefits $40,000
Plan assets 1/1/19 $640,000
PBO 1/1/19 $880,000
Interest rate 10%
Prepare the journal entry for pension expense only.
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Financial & Managerial Accounting
Authors: Carl S. Warren
10th Edition
0324663811, 9780324663815
