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Compute pension expense for the year

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Reference no: EM131765203

Problem - Basic Pension Worksheet

The following facts apply to the pension plan of Boudreau inc for the year 2010

Plan assets Jan 1 2010 $490000

Projected benefit obligation 490000

Settlement rate 8%

Service cost 40000

Contributions (funding) 25000

Actual an expected return on plant assets 49700

benefits paid to retirees33400

Using the preceding data, compute pension expense for the year 2010. As part of your solution prepare a pension worksheet that shows the journal entry for the pension expense for 2010 and year end balances in the related pension accounts.

Reference no: EM131765203

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