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Im stuck on this question will someone help please!! 4. Quantum Products created a defined-benefit plan for employees in 2015. Plan data for 2023 follows:
Im stuck on this question will someone help please!! 4. Quantum Products created a defined-benefit plan for employees in 2015. Plan data for 2023 follows: 1/1 Projected Benefit Obligation, \$512,000 1/1 Plan assets, $524,000 2023 service cost, $68,000 2023 actual retum on plan assets, $27,500 2023 contributions, $62,000 Settlement rate, 7.5\% Benefits paid, $30,000 Required: - Prepare a pension worksheet to calculate ending PBO and plan assets. - Prepare the joumal entry to record Pension Expense and Pension Liability for the year
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