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Pension data for Parker Financial Services the exclude the town Actual return on plan assets, 3% Expected rotum on plan assets, Discount rate, 7% January
Pension data for Parker Financial Services the exclude the town Actual return on plan assets, 3% Expected rotum on plan assets, Discount rate, 7% January 1, 2019 Balances in following account Accumulated benefit obligation $1,100 000 Projected benefit obligation $1.500.000 Plan assets (un valo) $1,400,000 Pror service cost-AOCI $165.000 Al the end of the year, there was a negligible balance in the net gan persons account There were to changes in actual assumptions on average, employees' romaning Service with the company is 10 years Cash contributions to pension fund during the year $250,000 Benefit payments to retirees during the year $185.000 Service cost, 2019 $225,000 Prepare the journal entries to record a) pension expense b) gains and losses (if any). c) funding, and Proctor you to She sharing Hale dinamento retan benefits for 2010 Type here to search butions to pension fund during the year $250,000 l- ments to retirees dumg the year $185,000 2019 $ 225,000 Prepare the journal ontos to record a) ponision expense, b) gains and losses (if any), c) funding, and d) payment of retiree benehts for 2019 Joumal entics must be in proper JE format, include full account title and amount, listed and labeled in a, b, card order Here is an Example of how your answer should look (continue same formal for b, c etc) a) record Pension expense Dr.... list accounts and amounts Cr. list excxounts and amounts WERS ***** e. After posting your journal entries, what is the ending balance in Plan Assots and PBO and how the information would be presented Section(s) and amounts For the toolbar.press ALT+F10 (PC) or ALT+FN4T10 (Mac). BIUS Paragraph Arial 10pt V Ev Avev I V X RES TT ES TTT + 1 X* X 3 3 = Hide Stop sharing Il Practitio is sharing your screen (0) E B
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