Question
Tablet Co. has a defined benefit plan. The following information has been provided to you relating to the plan: Current service cost for 20X6, measured
Tablet Co. has a defined benefit plan. The following information has been provided to you relating to the plan: Current service cost for 20X6, measured using the projected unit credit method $ 326,000 New past service cost, granted 1 January 20X6 97,000 Amount paid to pension fund trustee on 1 July 20X6 984,000 Actuarial gains in 20X6, due to higher mortality rates (103,000 ) Actual earnings on the plan assets 904,000
Required:
Prepare the journal entry to record the actuarial gains and losses. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started