I have attached the assignment. Please help.

University of Phoenix Online Accounting 423 Week 5 - Individual Assignments James L. Eads, CPA, MST, MSF Grading: This assignment is worth a total of 75 points and will be graded based 1/3 on effort and 2/3 on accuracy. The effort portion of your score will be impacted by items such as arithmetic errors, failure to follow proper form for statements and schedules as shown in the text, a clear lack of effort, the omission of computations to support your conclusions, or the omission of sections of the assignment, etc. Careless arithmetic errors, unbalanced journal entries, unbalanced schedules, or other careless mistakes will result in the loss of all credit for effort for that problem. I5-1: The Rapid Delivery Company provides a defined benefit pension plan for its employees. Data related to the plan follows. Balances as of December 31, 2011: Pension liability Plan assets Projected benefit obligation Unrecognized prior service cost $32,500 1,285,000 1,315,000 -0- Activity during 2012: Actual (expected) return on plan assets Benefits paid to plan beneficiaries Contributions (fundings) Prior service cost amortization Service cost $122,500 94,000 129,000 40,000 136,000 The Company's actuary has determined that the appropriate settlement rate is 8%. On January 1, 2012, The Company adopted an amendment to the plan which resulted in the grant of prior service costs of $730,000. The present value of the prior service costs is $235,000. Instructions: Prepare a pension worksheet for 2012 showing the journal entries for pension expense and the year-end balances in the pension related accounts. ANNUAL PENSION EXPENSE Service cost Interest cost Actual return Amort PSC Contribution Benefits Journal entry Ending balance RAPID DELIVERY COMPANY PENSION WORKSHEET 2012 CASH PREPAID/ PROJECTE ACCRUE D D COST BENEFIT OBLIGATI ON 136,000 105,200 122,500 40,000 129,000 129,000 PLAN ASSE T UNRECOGNIZE D PRIOR SERVICE COST I5-2: The Quick Delivery Company provides a defined benefit pension plan for its employees. Selected information related to the pension plan follows. Year Projected Benefit Obligation, Plan Assets, January 1 January 1 (present value) (fair market value) 2008 2009 2010 2011 2012 $1,200,000 1,500,000 1,800,000 2,200,000 2,000,000 Liability Gains/ (Losses) during year Average Remaining Service Life (years) ($175,000) (55,000) (6,000) 36,000 56,000 16 15 16 17 15 $1,187,500 1,600,000 1,625,000 1,875,000 2,100,000 The Quick Delivery Company ends its fiscal year on December 31. As of December 31, 2007, there were no cumulative unrecognized liability gains or losses. Instructions: In good form, prepare a schedule computing the minimum amount of net gain or loss that must be amortized and charged to pension expense for each of the five years. Note: For this problem, you may round to whole dollars. I5-3: Grading: This exercise is worth a total of 18.75 points. There are 20 grading elements each worth 18.75 x 2/3 / 20 = 0.625 points. There are 18.75 x 1/3 = 6.25 points available for effort. The Speedy Delivery Company acquired a new administrative and garage building on January 1, 2006. The building cost $2,600,000 and is expected to have a useful life of 30 years. At the end of its useful life, it is expected to have a salvage value of $500,000. The Company acquired 15 new delivery trucks on January 1, 2010 for a total cost of $700,000. The company's experience indicates that trucks are operated for an average of six years and are worth about 10% of their original cost at the end of that time. The Company uses the 150% declining balance depreciation method for the building and the sum-of-the-years digits depreciation method for the trucks. In 2012, The Company changed its method of depreciation for the building to the straight line method. In addition, due to improved maintenance methods, it revised its estimate of the trucks' useful lives to 7 years and decreased the estimated salvage value to 8% of the original cost. The Company ends its fiscal year on December 31. Instructions: Prepare the journal entries necessary to record depreciation expense for 2012. Note: For this problem, you may round to whole dollars. I5-4: The Fairly Reliable Delivery Company has prepared the following partial trial balance as of December 31, 2011. Debit Assets: Cash Accounts Receivable Interest Receivable Inventory Supplies Prepaid Insurance Prepaid Rent Credit $42,500 35,000 12,600 87,000 7,800 140,000 150,000 Liabilities: Accounts Payable Accrued Salaries and Wages Unearned Revenue Interest Payable Taxes Payable $38,500 8,000 65,000 40,000 82,000 Owners' Equity: Common Stock Paid-in Capital in Excess of Par Retained Earnings 10,000 90,000 86,100 $474,900 $474,900 Additional Information: 1. In recording depreciation expense for the year, the bookkeeper erroneously recorded $54,000 rather than the correct amount of $45,000. 2. In researching the above error, it was discovered that depreciation expense for the year 2010, also in the amount of $45,000, had not been recorded at all. Assume that the omission is material. 3. The Interest Receivable account remained unchanged during 2011. Accrued interest as of December 31, 2011 amounted to $8,200. 4. Insurance contracts in effect costing $240,000 for 12-months coverage have remaining lives as of December 31, 2011 of 6 months. 5. Supplies on hand on December 31, 2011 amounted to $2,400. 6. As of December 31, 2011, customers have prepaid for delivery services in the amount of $25,000. 7. An analysis of wages and salaries indicates that, as of December 31, 2011, a total of $2,600 should be in the Accrued Salaries and Wages account. 8. On July 1, 2010, $150,000 of prepaid rent was paid for the rental of a factory building. The payment was for the period July 1, 2010 through June 30, 2013. The balance in the Prepaid Rent account has not been changed since the payment was made. 9. The Fairly Reliable Delivery Company ends it fiscal year on December 31. Instructions: Ignore income tax. a) Prepare the adjusting journal entries necessary as of December 31, 2011, assuming that the books have not yet been closed. b) Prepare the adjusting journal entries necessary as of December 31, 2011, assuming that the books have been closed