At January 1, 2025, Ivanhoe Company had plan assets of $296,500 and a projected benefit obligation...

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At January 1, 2025, Ivanhoe Company had plan assets of $296,500 and a projected benefit obligation of the same amount. During 2025, service cost was $28,400, the settlement rate was 10%, actual and expected return on plan assets were $24,200, contributions were $19,900, and benefits paid were $17,500. Prepare a pension worksheet for Ivanhoe for 2025. (Enter all amounts as positive) Pension Items Expense Balance 1/1/25 Service cost Interest cost Actual return Contributions Benefits Journal entry Balance, 12/31/25 IVANHOE COMPANY General Journal Entries Cash $ Memo Record Pension Asset/Liability Projected Benefit Obligation Plan Assets At January 1, 2025, Ivanhoe Company had plan assets of $296,500 and a projected benefit obligation of the same amount. During 2025, service cost was $28,400, the settlement rate was 10%, actual and expected return on plan assets were $24,200, contributions were $19,900, and benefits paid were $17,500. Prepare a pension worksheet for Ivanhoe for 2025. (Enter all amounts as positive) Pension Items Expense Balance 1/1/25 Service cost Interest cost Actual return Contributions Benefits Journal entry Balance, 12/31/25 IVANHOE COMPANY General Journal Entries Cash $ Memo Record Pension Asset/Liability Projected Benefit Obligation Plan Assets

Answer rating: 100% (QA)

1 Beginning Balances January 1 2025 Plan Assets 296500 Projected Benefit Obligation PBO 296500 2 Cha... View the full answer