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On January 1, 2022, Stone Co. had the following balances: Projected benefit obligation $7,200,000 Fair value of plan assets 7,100,000 Other data related to the
On January 1, 2022, Stone Co. had the following balances: Projected benefit obligation $7,200,000 Fair value of plan assets 7,100,000 Other data related to the pension plan for 2022: Service cost 315,000 Contributions to the plan 260,000 Benefits paid 250,000 Interest rate 4% Actual return 284,000 . Prepare a pension worksheet for 2022 . Prepare journal entries to record each of the following: a. Pension expense b. Contribution to the plan c. Benefits paid to retirees
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