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Make a journal entry to record pension expense

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Reference no: EM132518606

On January 1 st , 2018 United Company provides the following information related to its pension plan for the year ending December, 31, 2018

Plan assets, 1/1/2018 ........................................................... 100,000

Annual service cost ............................................................... 43,000

Settlement rate ..................................................................... 7%

Projected benefit obligation, 1/1/2018 ........................................ 100,000

Funding contributions during 2018 .............................................. 45,000

Benefits paid to retirees during 2018 ........................................... 30,000

Plan assets, 12/31/2018 ........................................................... 110,000

Question 1: Journal entry on 12/31/2018 to record pension expense for 2018 (do not forget to show work and circle your JE)

Reference no: EM132518606

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