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Part II: The following defined pension data of EPA Corporation apply to the year 2017 5,200,000 5,180,000 PBO, January 1, 2017 (before amendment) Plan assets,
Part II: The following defined pension data of EPA Corporation apply to the year 2017 5,200,000 5,180,000 PBO, January 1, 2017 (before amendment) Plan assets, January 1, 2017 On January 1, 2017, through plan amendment, prior service benefits granted having a PV of Settlement & expected return rate Service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees Average service life of all covered employees in years 215,000 9% 255,000 388,000 429,000 420,000 10 INSTRUCTIONS: 1. For 2017, prepare a pension worksheet that shows the journal entry for pension expense and the year-end balances in the related pension accounts. 2. Prepare the journal entry for pension expense for 2017 Part II: The following defined pension data of EPA Corporation apply to the year 2017 5,200,000 5,180,000 PBO, January 1, 2017 (before amendment) Plan assets, January 1, 2017 On January 1, 2017, through plan amendment, prior service benefits granted having a PV of Settlement & expected return rate Service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees Average service life of all covered employees in years 215,000 9% 255,000 388,000 429,000 420,000 10 INSTRUCTIONS: 1. For 2017, prepare a pension worksheet that shows the journal entry for pension expense and the year-end balances in the related pension accounts. 2. Prepare the journal entry for pension expense for 2017
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