Question: Please help me with this, need to get a good grade in order to pass. Thank you ACFI-492/592 Pension Problem The following defined pension data
ACFI-492/592 Pension Problem The following defined pension data of BSU, Inc. apply to the year 2017. Projected benefit obligation, 1/1/17 Plan assets, 1/1/17 Prior service costs, 1/1/17 Settlement rate Expected rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2017 $485,000 460,000 80,000 9% 1096 42,200 55,000 38,000 22,000 25,000 Instructions: For 2017, complete the attached pension work sheet for BSU, Inc. and prepare the journal entry for pension expense
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