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Discuss beginning of the year balance

Assignment Help Accounting Basics
Reference no: EM131748480

Intermediate Accounting II -- Pensions

Directions:

Complete on a Pension Worksheet/ or excel spreadsheet

Also, write the journal entry

Beginning of the year Balance
Plan Assets 450,000 (DR)
PBO 600,000 (CR)
Pension Asset/ Liab 150,000 (CR)
PSC 75,000 (DR)
OCI Loss 55,000 (DR)
During the Year
SC 75,000
Actual Retirement 45,000
Amort PSC 20,000
Contributions 115,000
Benefits 70,000
Settlement Rate 7%
Exp ROI 8%

Directions:

Complete on a Pension Worksheet/ or excel spreadsheet

Also, write the journal entry

Reference no: EM131748480

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