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List 2018 transactions underneath the 2017 transactions. Use Excel show me every work step P20-1 (L01,2,3,4) EXCEL (2-Year Worksheet) On January 1,2017, Harrington Company has
List 2018 transactions underneath the 2017 transactions. |
Use Excel show me every work step
P20-1 (L01,2,3,4) EXCEL (2-Year Worksheet) On January 1,2017, Harrington Company has the folowing defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets $4,500,000 4,200,000 The interest settlement rate applicable to the plan is 10%. On anuary 1, 2018, the company amends its pension agreement so that prior service costs of $500,000 are created. Other data related to the pension plan are as follows. 2017 $150,000 240,000 2018 $180,000 90,000 Service cost Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 285,000 200,000 252,000 280,000 260,000 8% 6% Instructions (a) Prepare a pension worksheet for the pension plan for 2017 and 2018. (b) For 2018, prepare the journal entry to record pension-related amounts. l lack son Company adopts acceptStep by Step Solution
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