veldre pension

Project Description:

veldre company provides the following information about its defined benefit pension plan for the year 2012.

service cost $96,100
contribution to the plan 112,700
prior service cost amortization 15,800
actual and expected return on plan assets 66,600
benefits paid 49,000
plan assets at january 1, 2012 643,300
projected benefit obligation at january 1, 2012 700,700
accumulated oci (psc) at january 1, 2012 156,700
interest/discount (settlement) rate 9 %

prepare a pension worksheet inserting january 1, 2012, balances, showing december 31, 2012.

veldre company
pension worksheet—2012
general journal entries memo record
items
annual
pension expense cash
oci
prior service cost pension asset/
liability projected benefit
obligation plan
assets
balance, january 1, 2012 dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
service cost dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
interest cost dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
actual return dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
amortization of psc dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
contributions dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
benefits dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
journal entry for 2012 dr.cr. dr.cr. dr.cr. dr.cr. dr.cr. dr.cr.
accumulated oci, dec. 31, 2011 dr.cr. dr.cr. dr.cr. dr.cr.
balance, dec. 31, 2012 dr.cr. dr.cr. dr.cr. dr.cr.

prepare the journal entry recording pension expense. (credit account titles are automatically indented when amount is entered. do not indent manually.)

account titles and explanation debit credit
Skills Required:
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Price Type: Negotiable

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