thane Page Layout Formulas Data Review View X Garamond 11 AA Is- I was test 3 B Office Update Tokep up-to-date with security fees and improvements, the Check for fx 9400 Member 5 % 9 5:29.0.4 fer Formen Com Chow B G 1 104 106 107 109 D E 101 H 102 103 15 ABC Corporation provides a defined benefit pension plan for its employees. A combination adjusting entry should be made to correctly account for this type of pension plan given the following items of information for the 2014 plan year, including the recording of pension expense and the employer's contribution to the pension plan in 2011 105 Note: Use the summary entry method as demonstrated and discussed in the chapter lectures on pension accounting to prepare the adjusting entry. Pension asset/liability January 1) SO 108 Actual return on plan ussets $ 40,000 Expected return on plan assets $20,000 110 Contributions (funding) in 20X1 $37,000 111 Fair value of plan assets (December 31) $75,000 112 Settlement rate 10% Projected benefit obligation (January 1) $0 114 Service cost $60,000 115 $0 Benefits paid in 20X1 116 *For purposes of financial statement presentation, consider Pension Expense as an operating item and any resulting Pension Asset/lautuility as long cermin nature. 117 118 16 On December 31, 2014, ABC Corporatiod issued 1,000 shares of restricted stock to its Chief Financial Officer. ABC stock had a fair value (closing market price) of 10. char. December 3. Additional information follow Acting 13-31.10 Und true 113 At the 119 Ant Needed wwwins Aa w 13 B U SC B11 Jx D E Credit Debit 945,282 167,000 190,300 $ 350.000 24.600 177.824 75.000 190.000 4000 2 Unadjusted Trial Balance 3 December 31, 20X1 4 5 6 Cash $ 7 Short term investments 8 Fair value adjustment (Trading 9 Accounts receivable 10 Allowance for doubtfil accounts 11 leto 12 Purchas 13 Prepaid in 14 LT Debt) investment (HTM) 15. Land 16 Building 17 Accumulated depreciation building 18 Equipment 19 Accumulated depreciation equipment 20 Patent 21 Accounts payable 22 Nons payable 23 Income taxes payable 24 Urmed CEE 25 Bonde Payable 26 Premam on Bondu Puyable 27 Commen noch 20 PC of Pomoc 29 Redesmi 10 Tech 31 Dends 12 Sales Reven 33 Adeg expens 14 We 35 Omseme 30 17 De 60,000 200,000 37,500 75.240 235.000 BO 36,000 600.000 61,771 6.000 13,000 49.000 61.000 1000 T. 21,200 3 1 Instructions Unadjusted Trial Balance Adjustments Neod 13