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Under Annual Pension expense I am having trouble calculating the Unexpected loss I DO NOT NEED THE ANSWERS TO THE OTHER SLOTS. Crane Company adopts
Under "Annual Pension expense" I am having trouble calculating the "Unexpected loss" I DO NOT NEED THE ANSWERS TO THE OTHER SLOTS.
Crane Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $202,000; projected benefit obligation $245,000. Other data relating to 3 years' operation of the plan are as follows. 2016 2017 2018 Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 11/17) Amortizatian of prior service cost Change in actuarial assumptions establishes $16,100 $18,600 $25,600 10% 10% 10% 18,200 16,100 14,100 22,220 39,800 16,500 159,200 24,000 47,600 21,400 3,200 42,40D a December 31, 2018, prolected benefit obligation of: 518,100 Prepare a pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive.) CRANE COMPANY Pension Worksheet-2016, 2017, 2018 Annual Pension Expense OCI-Prior Service Cost OCI-Gain/ Loss Pension Asset/ Liability Projected Benefit obligation plan Assets Cash Balance, Jan. 1, 2016 Service cost Interest cost Actual return Unexpected loss Contributions Benefits Journal entry for 2016 Accumulated OCI, Dec. 31, 2015 Balance, Dec. 31, 2016Step by Step Solution
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