Question: Blum Foods Company obtained the following information from the i

Blum Foods Company obtained the following information from the insurance company that administers the company’s employee defined benefit pension plan.


Prior to 2010, cumulative pension expense was equal to cumulative contributions.

Instructions
(a) Prepare the journal entries to record pension expense and the employer’s funding contribution for the years 2010, 2011, and 2012. (Preparation of a pension worksheet is not a requirement of this exercise; insufficient information is given to prepare one.)
(b) Indicate the pension-related amounts that would be reported on the company’s income statement and statement of financial position for 2010, 2011, and2012.
View Solution:


Sale on SolutionInn
Sales0
Views185
Comments
  • CreatedJune 17, 2013
  • Files Included
Post your question
5000