On January 1, 2025, Carla Vista Company has the following defined benefit pension plan balances. Projected...
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On January 1, 2025, Carla Vista Company has the following defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets $4,569,000 4,160,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2026, the company amends its pension agreement so that prior service costs of $509,000 are created. Other data related to the pension plan are as follows. Service cost Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 2025 $150,000 -0- 245,000 199,000 249,600 6% 2026 $182,000 90,000 283,000 277,000 257,000 8% Prepare a pension worksheet for the pension plan for 2025 and 2026. On January 1, 2025, Carla Vista Company has the following defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets $4,569,000 4,160,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2026, the company amends its pension agreement so that prior service costs of $509,000 are created. Other data related to the pension plan are as follows. Service cost Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 2025 $150,000 -0- 245,000 199,000 249,600 6% 2026 $182,000 90,000 283,000 277,000 257,000 8% Prepare a pension worksheet for the pension plan for 2025 and 2026.
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To prepare a pension worksheet for the Carla Vista Companys defined benefit pension plan for 2025 and 2026 you need to calculate the various component... View the full answer
Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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