Defined benefit obligation............................ (a) $ 1,200,000 Fair value of plan assets............................... (b) 1,170,000 Current service cost...................................... $ 95,000 Contributions to the plan............................. 104,000 Benefits paid................................................
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| Defined benefit obligation............................ (a) $ 1,200,000 |
| Fair value of plan assets............................... (b) 1,170,000 |
| Current service cost...................................... $ 95,000 |
| Contributions to the plan............................. 104,000 |
| Benefits paid................................................ 100,000 |
| Actual return on plan assets......................... 92,000 |
| Interest (discount) rate ................................ 8% |
| Pension expense.......................................... (c) |
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a) Calculate the missing values.
d) Prepare the necessary entries for 2020.
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Authors: Debra C. Jeter, Paul Chaney
2nd Edition
0471218529, 978-0471218524
