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How many journal entries are related to retirement expense

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Reference no: EM132736701

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Q1. In 2020, the company will implement a past service benefit of 92,500, as follows additional information

a. Annual service costs increased by 15% from 2019

b. Discount rate for the previous year

c. Annual contribution funding is 21,500

d. The benefit paid to retirees for that year was 9,500

Prepare worksheets related to the above activities and how many journal entries are related to retirement expense?

Q2. In 2021, the company will carry out the following activities:

a. Annual service costs increased by 11% from 2020

b. Discount rate decreased by 1% from the previous year

c. Annual contribution funding will increase by 120% k from 2020

d. The benefit paid is 11,000

Prepare worksheets related to the above activities and how many journal entries are related to retirement expense?

Prepare pension disclosure report on Plan Jaya Inc's activities in 2019-2021.

Reference no: EM132736701

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