Question: Please answer the question in the journal entry form provided in the question. Has been posted multiple times and havent recieved correct answer. Please help


A partially completed pension spreadsheet showing the relationships among the elements that constitute Carney, Incorporated's defined benefit pension plan follows. Six years earlier, Carney revised its pension formula and recalculated benefits earned by employees in prior years using the more generous formula. The prior service cost created by the recalculation is being amortized at the rate of $6 million per year. At the end of 2024 , the pension formula was amended again, creating an additional prior service cost of $40 million. The expected rate of return on assets and the actuary's discount rate.were 10%, and the average remaining service life of the active employee group is 10 years. Record any 2024 gain or loss for the change in the assumption regarding the PBO. Note: Enter debits before credits. Journal entry worksheet 1 Record new prior service cost in 2024. Note: Enter debits before credits
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