QE 9-10 Journal Entries for Pensions Amherst City provides a defined benefit pension plan for employees of the city electric utility, an enterprise fund. Assume that the projected level of earnings on plan investments is $190,000, the service cost component is $250,000, and interest on the pension liability is $160,000 for the year. Actual returns on plan assets for the year were $175,000, and the City is amortizing a deferred outflow resulting from a change in plan assumptions from a prior year in the amount of $6,000 per year. Prepare journal entries to record annual pension expense for the enterprise fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record entry for pension expense. Note: Enter debits before credits earch hp Journal entry worksheet I 1 2 3 Record entry for pension expense. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Clear entry Record entry Journal entry worksheet Record entry for additional pension liability. Note: Enter debits before credits. General Journal Debit Transaction Credit View general journal Clear entry Record entry Journal entry worksheet le Record entry for amortization of deferred outflow resulting from change in pension plan assumptions. Note: Enter debits before credits. General Journal Debit Transaction Credit View general journal Record entry Clear entry QE 9-10 Journal Entries for Pensions Amherst City provides a defined benefit pension plan for employees of the city electric utility, an enterprise fund. Assume that the projected level of earnings on plan investments is $190,000, the service cost component is $250,000, and interest on the pension liability is $160,000 for the year. Actual returns on plan assets for the year were $175,000, and the City is amortizing a deferred outflow resulting from a change in plan assumptions from a prior year in the amount of $6,000 per year. Prepare journal entries to record annual pension expense for the enterprise fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record entry for pension expense. Note: Enter debits before credits earch hp Journal entry worksheet I 1 2 3 Record entry for pension expense. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Clear entry Record entry Journal entry worksheet Record entry for additional pension liability. Note: Enter debits before credits. General Journal Debit Transaction Credit View general journal Clear entry Record entry Journal entry worksheet le Record entry for amortization of deferred outflow resulting from change in pension plan assumptions. Note: Enter debits before credits. General Journal Debit Transaction Credit View general journal Record entry Clear entry
