Using the information in E20-2, prepare a pension worksheet inserting January 1, 2012, balances, showing December 31,
Question:
Using the information in E20-2, prepare a pension worksheet inserting January 1, 2012, balances, showing December 31, 2012, balances, and the journal entry recording pension expense.
Data From E20-2:
Veldre Company provides the following information about its defined benefit pension plan for the year 2012.
Transcribed Image Text:
Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets $ 90,000 105,000 10,000 64,000 Benefits paid 40,000 Plan assets at January 1, 2012 640,000 Projected benefit obligation at January 1, 2012 700,000 Accumulated OCI (PSC) at January 1, 2012 150,000 Interest/discount (settlement) rate 10%
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