Question
At January 1, 2020, Riverbed Company had plan assets of $300,400 and a projected benefit obligation of the same amount. During 2020, service cost was
At January 1, 2020, Riverbed Company had plan assets of $300,400 and a projected benefit obligation of the same amount. During 2020, service cost was $27,500, the settlement rate was 10%, actual and expected return on plan assets were $25,900, contributions were $20,100, and benefits paid were $17,800.
a pension worksheet for Riverbed Company for 2020.
RIVERBED COMPANY
General Journal Entries Memo Record
Items Pension Expense Cash Pension Asset/Liability Projected Benefit Obligation Plan Assets
1/1/20 $enter a dollar amount select a debit or credit $enter a dollar amount select a debit or credit $enter a dollar amount select a debit or credit
$enter a dollar amount select a debit or credit $enter a dollar amount select a debit or credit
Service cost enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
Interest cost enter a dollar amount select a debit or credit enter a dollar amountselect a debit or credit enter a dollar amount select a debit or credit
enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
Actual return enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
Contributions enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
Benefits enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
enter a dollar amount select a debit or credit enter a dollar amount select a debit or credit
Journal entry, 12/31/20 $enter a total amount select a debit or credit $enter a total amount select a debit or credit enter a dollar amount select a debit or credit
enter a dollar amountselect a debit or credit enter a dollar amount select a debit or credit
Balance, 12/31/20 $enter a total amount select a debit or credit $enter a total amount select a debit or credit $enter a total amount select a debit or credit
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