Reference no: EM131293671
The following defined pension data of Rydell Corp. apply to the year 2014.
Projected benefit obligation, 1/1/14 (before amendment) $568,300
Plan assets, 1/1/14 546,800
Pension liability 21,500
On January 1, 2014, Rydell Corp., through plan amendment,
grants prior service benefits having a present value of 123,100
Settlement rate 9 %
Service cost 64,800
Contributions (funding) 65,700
Actual (expected) return on plan assets 53,000
Benefits paid to retirees 41,100
Prior service cost amortization for 2014 23,700
For 2014, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts.
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: The following defined pension data of Rydell Corp. apply to the year 2014. For 2014, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts.
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