Manon Corporation sponsors a defined benefit pension plan, which it accounts for with the deferral and amortization approach. The following pension plan information is available for 2011 and 2012:
The pension fund paid out benefits in each year. While there was an unrecognized actuarial gain/loss at January 1, 2011, no additional actuarial gains or losses were incurred in the two-year period.
(a) Calculate pension expense for 2011 and 2012.
(b) Prepare all journal entries to record the pension expense and the company’s pension plan funding for both years.
(c) Assuming that Manon is not a public company and does not have broad public accountability, prepare the required notes to the financial statements at December 31, 2012.
(d) Prepare the complete pension work sheets for Manon for 2011 and 2012.

  • CreatedAugust 23, 2015
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