Question

Katie Day Company adopts IAS 19 in accounting for its defined benefit pension plan on January 1, 2010, with the following beginning balances: plan assets $200,000; defined benefit obligation $200,000. Other data relating to 3 years’ operation of the plan are as follows.


Instructions
(a) Prepare a pension worksheet presenting all 3 years’ pension balances and activities.
(b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year.
(c) At December 31 of each year, prepare a schedule reconciling the funded status of the plan with the pension amounts reported in the financialstatements.


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  • CreatedJune 17, 2013
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