The following facts apply to the pension plan of Boudreau Inc. for the year 2025. Instructions Using
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The following facts apply to the pension plan of Boudreau Inc. for the year 2025.
InstructionsUsing this data, compute pension expense for the year 2025. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year-end balances in the related pension accounts.
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Plan assets, January 1, 2025 Projected benefit obligation, January 1, 2025 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $490,000 490,000 8% 40,000 25,000 49,700 33,400
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Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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