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Hello, Can you help me with the attached problem? Thank you Exercise 20-4 The following facts apply to the pension plan of Boudreau Inc. for
Hello,
Can you help me with the attached problem?
Thank you
Exercise 20-4 The following facts apply to the pension plan of Boudreau Inc. for the year 2014. Plan assets, January 1, 2014 Projected benefit obligation, January 1, 2014 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $490,000 490,000 8% 40,000 25,000 49,700 33,400 Using the preceding data, compute pension expense for the year 2014. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2014 and the year-end balances in the related pension accounts. Items Balance, January 1, 2014 Annual Pension Expense $ BOUDREAU INC. Pension Worksheet2014 General Journal Entries Pension Asset/ Cash Liability $ $ Service cost Interest cost Actual return Contribution s Benefits Journal entry, December $ $ Memo Record Projected Benefit Plan Obligation Assets $ $ 31 Balance, December 31, 2014 Don't show me this message again for the assignment $ $ $Step by Step Solution
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