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Please show all calculations for numbers used Use the following set of information to prepare a pension worksheet. Also, make the appropriate journal entry to
Please show all calculations for numbers used
Use the following set of information to prepare a pension worksheet. Also, make the appropriate journal entry to record pension expense for 2018. Hayworth Inc. has the following information related to its defined-benefit pension plan: Projected Benefit Obligation, 1/1/2018 (before amendment) Accumulated Benefit Obligation, 1/1/2018 (before amendment) Vested Benefit Obligation, 1/1/2018 (before amendment) Pension Assets, 1/1/2018 Service Cost Settlement rate Expected rate of return on plan assets Actual return on plan assets Benefits paid to retirees Contributions to plan Amortization of prior service costs On 1/1/2018, Hayworth Inc. grants prior service benefits having| a present value of Unamortized Gain, 1/1/2018 Average service life of all employees Unamortized Prior Service Cost (OCI), 1/1/2018 $675.000 475,000 375,000 525,000 90,000 6% 10% 30,000 72,000 80,000 20,000 100,000 100,000 10 years 150,000Step by Step Solution
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