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I have done question A. (Prepare a pension worksheet presentation all 3 pears' pension balance and activities). I already did A but I am having
I have done question A. (Prepare a pension worksheet presentation all 3 pears' pension balance and activities). I already did A but I am having trouble in B and C. please help.
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FULL SCREEN PRINTER VERSION BACK NEXT Problem 20-2 (Part Level Submission) Pearl Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan asset $245,000. Other data relating to 3 years' operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/17) Amortization of prior service cost Change in actuarial assumptions establishes December 31, 2018, projected benefit obligation of: 2016 $15.900 1096 18,100 15,900 13,700 2017 $18.900 10% 21.760 39,800 16,300 160.400 55,000 2018 $26,300 10 % 24,000 47,100 21,300 42,300 525,600 Your answer is correct (b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year. (Credit account title amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2016 63. 20 Dec 31, 2017 CALCULATOR FULL SCREEN PRINTER VERSION 4 BLACK NEXT 67 Dec. 31, 2018 63. SHOW LIST OF ACCOUNTS 20 (c) The parts of this question must be completed in order. This part will be available when you complete the partybove, FULL SCREEN PRINTER VERSION BACK NEXT Problem 20-2 (Part Level Submission) Pearl Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan asset $245,000. Other data relating to 3 years' operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/17) Amortization of prior service cost Change in actuarial assumptions establishes December 31, 2018, projected benefit obligation of: 2016 $15.900 1096 18,100 15,900 13,700 2017 $18.900 10% 21.760 39,800 16,300 160.400 55,000 2018 $26,300 10 % 24,000 47,100 21,300 42,300 525,600 Your answer is correct (b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year. (Credit account title amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2016 63. 20 Dec 31, 2017 CALCULATOR FULL SCREEN PRINTER VERSION 4 BLACK NEXT 67 Dec. 31, 2018 63. SHOW LIST OF ACCOUNTS 20 (c) The parts of this question must be completed in order. This part will be available when you complete the partyboveStep by Step Solution
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