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Hi can i please get help from this please? B Prepare the pension journal entry for the year Dr. CR please use excel format Rollo
Hi can i please get help from this please?
Rollo Company maintains a defined benefit pension plan with First Cranston Trust. Below are the balances reported by First Cranston on January 1, 2020. At the beginning of 2020, First Cranston Trust informed Rollo that due to amending the program for prior service for new employees, they need to deposit $200,000. Other matters for 2020 were: The settlement rate is 10%. Current service cost is $50,000. Expected earnings are 10% on beginning of the year Plan Assets. Actual earnings are $72,000. Prior service cost amortization is $25,000. First Cranston Trust paid retirement benefits of $35,000. Rollo funded the plan $130,000. Assuming a beginning debit balance of $320,000 in OCI Prior Service Costs and a beginning debit balance of $45 in OCI Other Gains and Losses, prepare a pension worksheet below B Prepare the pension journal entry for the year
Dr. CR
please use excel format
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