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Season Tyme Tea Company provided the following information related to its defined-benefit pension plan (Click the icon to view the information.) Read the requirements Requirement

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Season Tyme Tea Company provided the following information related to its defined-benefit pension plan (Click the icon to view the information.) Read the requirements Requirement a. Compute the total pension cost for the year. Select the labels and enter the amounts for all items that are included in the pension cost for the year. (Abbreviation used: PBO = Projected Benefit Obligation Round any calculations to the nearest whole number. Use parentheses or a minus sign for items that reduce pension cost. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Components of Pension Cost: Amount Total Pension Cost he amounts 101 nearest whole number. Use parentheses or a minus sign for items that reduce pension cost. If a box IS NOUS abel or enter a zero.) ost: Amount Requirements a. Compute the total pension cost for the year. b. Determine the ending balances of the plan assets and the projected benefit obligation and indicate the funded status of the plan. c. Determine the ending balance for accumulated other comprehensive income. d. Prepare the journal entry to record the current year's pension cost. e. Reconcile the ending balance in accumulated other comprehensive income. Print Done er any number in the input fields and then click Check Answer. Clear All Chec en Cost: Defined-benefit pension plan information 954,500 1,020,340 81,500 10% 16% 123,400 67,480 Beginning plan assets at fair value (equal to market-related value) Beginning projected benefit obligation (PBO) Service cost for the year Settlement rate Expected return on plan assets Actual return on plan assets Contributions for the year Benefit payments for the year Beginning accumulated other comprehensive income related to prior service costs (debit balance) Amortization of prior service costs Increase in the ending projected benefit obligation due to changes in actuarial assumptions (.e., actuarial loss) Average remaining service life (ARSL) of employee base - 47.440 65,840 15,500 78.625 10 years There is no accumulated AOCI related to actuarial gains/losses as of the beginning of the year. Print Done Clear All Ches

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