Question: Looking for help with E10. Included E9 as it contains the related info for E10. E9. Defined-Benefit Pension Plan, Comprehensive. Crystal Glass Works, Ltd. provided

Looking for help with E10. Included E9 as it contains the related info for E10.

Looking for help with E10. Included E9 as it contains the related

E9. Defined-Benefit Pension Plan, Comprehensive. Crystal Glass Works, Ltd. provided you with the following information regarding its defined-benefit pension plan. Required >> . Beginning plan assets at fair value (market-related value), $600,000 . Beginning projected benefit obligation (PBO), $558,000 Service cost for the year, $125,800 Settlement rate, 12% Expected return on plan assets, 9% Actual return on plan assets, $30,100 loss Contributions for the year, $45,700 Benefit payments for the year, $97,440 Beginning accumulated other comprehensive income, $42,000 (due to unamortized net actuarial gains) Prior service costs awarded during the year (not effective as of the beginning of the year) for vested employees, $19,690 . Amortization of prior service costs, $7,000 Decrease in the ending projected benefit obligation due to changes in actuarial assumptions (i.e., actuarial gain), $8,000 . Average remaining service life of the employee base, 15 years Required >> a. Prepare the separate "conceptual" journal entries for the preceding relevant information. b. Compute the total pension cost for the year. c. Determine the ending balances of the plan assets and the projected benefit obligation and indicate the funded status of the plan. d. Prepare the journal entry to record the current year's pension cost. E10. Defined-Benefit Pension Plan, Comprehensive, IFRS. Redo E9, assuming that Crystal Glass Works, Ltd. is an IFRS reporter and the expected return on plan assets is the same as the settlement rate. Crystal Glass reports service cost as an operating expense and all other pension expenses as non-operating

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