Donnie Harpin was recently promoted to assistant controller of Glomski Corporation, having previously served the company as a staff accountant. Glomski is a medium-sized company that reports under private enterprise standards. One of Harpin’s new responsibilities is to prepare the annual pension accrual. Judy Gralapp, the corporate controller, provided Harpin with last year’s working papers and information from the actuary’s annual report. The pension work sheet for the prior year is as follows:
The actuary’s report for the year ended May 31, 2012, indicated no actuarial gains or losses in the fiscal year ended May 31, 2012. Other pertinent information from the report is as follows:
(a) Prepare the pension work sheet for Glomski Corporation for the year ended May 31, 2012.
(b) Prepare the necessary journal entries to reflect the accounting for Glomski Corporation’s pension plan for the year ended May 31, 2012.

  • CreatedAugust 23, 2015
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