The following defined pension data of Bridgewater, Inc. Corp. apply to the year 2022. Projected benefit...
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The following defined pension data of Bridgewater, Inc. Corp. apply to the year 2022. Projected benefit obligation, 1/1/22 Plan assets, 1/1/22 Previous Prior service costs, (Balance carry forward @ 1/1/22) Settlement rate Expected rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2022 $9,750,000 9,200,000 800,000 10% 9% 910,000 1,020,000 880,000 560,000 285,000 Instructions: For 2022, prepare a pension work sheet for Bridgewater, Inc. that shows the journal entry for pension expense. The following defined pension data of Bridgewater, Inc. Corp. apply to the year 2022. Projected benefit obligation, 1/1/22 Plan assets, 1/1/22 Previous Prior service costs, (Balance carry forward @ 1/1/22) Settlement rate Expected rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2022 $9,750,000 9,200,000 800,000 10% 9% 910,000 1,020,000 880,000 560,000 285,000 Instructions: For 2022, prepare a pension work sheet for Bridgewater, Inc. that shows the journal entry for pension expense.
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Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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