Question
On January 1, 2025, Sansung Company has the following defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets Other data
On January 1, 2025, Sansung Company has the following defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets Other data related to the pension plan are as follows: Interest (settlement) rate applicable to the plan Amendment of plan agreement on January 1, 2026: Prior service costs created Service costs Prior service costs amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets Instructions a. b. Prepare a pension worksheet for the pension plan for 2025 and 2026. For 2026, prepare the journal entry to record pension-related amounts. $ 4,500,000 4,200,000 10% S 500,000 2025 2026 $ 150,000 $ 180,000 90,000 240,000 200,000 252,000 6% 285,000 280,000 260,000 8%
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