Latoya Company provides the following selected information related to its defined benefit pension plan for 2014. Instructions

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Latoya Company provides the following selected information related to its defined benefit pension plan for 2014.

                                         

Instructions
  (a) Compute pension expense and prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2014. Preparation of a pension worksheet is not required. Benefits paid in 2014 were $35,000.
  (b) Indicate the pension-related amounts that would be reported in the company’s income statement and balance sheet for 2014.

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Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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