The information below was provided relative to the pension plan for Atlas Wholesale Company for the years

Question:

The information below was provided relative to the pension plan for Atlas Wholesale Company for the years 2011€“2013.

Instructions:
1. Compute the amount of net periodic pension expense for each of the three years. Assume that the deferred net pension loss relates only to the difference between the actual and expected return on the pension fund. Also note that this deferred loss is never amortized in 2011, 2012, or 2013 because it is always less than the 10% corridor amount (although it will be amortized in 2014).
2. Prepare the journal entries for recording the net pension expense and the pension funding for the three years.
3. Identify the pension balance sheet accounts and their amounts as of December 31,2013.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Expected Return
The expected return is the profit or loss an investor anticipates on an investment that has known or anticipated rates of return (RoR). It is calculated by multiplying potential outcomes by the chances of them occurring and then totaling these...