Question: All info are here! There is no needs for other info Preparing a pension work sheet. The accountant for Marlin Corporation has developed the following
Preparing a pension work sheet. The accountant for Marlin Corporation has developed the following information for the company's defined-benefit pension plan for 2015: Service cost $500,000 Actual return on plan assets 250,000 Annual contribution to the plan 920,000 Amortization of prior service cost125,000 Benefits paid to retirees 60,000 Settlement rate 10% Expected rate of return on plan assets 8% The accumulated benefit obligation at December 31, 2015, amounted to $3, 250,000. Instructions Using the above information for Marlin Corporation, complete the pension work sheet for 2015. Indicate (credit) by parentheses. Calculated amounts should be supported. Prepare the journal entry to reflect the accounting for the company's pension plan for the year ending December 31, 2015
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