Solution-Pension worksheet, pension worksheet

Pension worksheet

Reference no: EM13148668

HARRINGTON COMPANY
Pension Worksheet-2012 and 2013
	General Journal Entries					Memo Record
Items	Annual Pension Expense	Cash	OCI - Prior Service Cost	OCI - Gain/Loss	Pension Asset/ Liability	Projected Benefit Obligation	Plan Assets
Balance, Jan. 1, 2012					800,000 Dr	5,600,000 Cr	6,400,000 Dr
(a) Service cost	180,000 Dr					180,000 Cr
(b) Interest cost	504,000 Dr					504,000 Cr
(c) Actual return	320,000 Cr						320,000 Dr
(d) Contributions		255,000 Cr					255,000 Dr
(e) Benefits						255,000 Dr	255,000 Cr
Journal entry, 12/31/12	364,000 Dr	255,000 Cr			^*109,000 Cr
Accum OCI, 12/31/11	0				0
Balance, Dec. 31, 2012					691,000 Dr	6,029,000 Cr	6,720,000 Dr
(f) Additional PSC			620,000 Dr			620,000 Cr
January 1, 2013
(g) Service cost	195,000 Dr					195,000 Cr
(h) Interest cost	542,610 Dr					542,610 Cr
(i) Actual return	515,000 Cr						515,000 Dr
(j) Unexpected loss	22,600 Cr			22,600 Dr
(k) Amortization of PSC	97,000 Dr		97,000 Cr
(l) Contributions		305,000 Cr					305,000 Dr
(m) Benefits						300,000 Dr	300,000 Cr
Journal entry, 12/31/13	297,010 Dr	560,000 Cr	523,000 Dr	22,600 Dr	282,610 Dr
Accum OCI, 12/31/12			523,000 Dr	22,600 Dr
Balance, Dec. 31, 2013					973,610 Dr	5,846,610 Cr	7,240,000 Dr

Reference no: EM13148668

Questions Cloud

What type of cross would produce the following genetic ratio : What type of cross would produce the following genetic ratios? Write the genotypes that would lead to these ratios.

What is the equation for the chunzheng''s long-run : Given your results from above, what is the equation for the Chunzheng's long-run total cost curve as a function of quantity Q. How much does it cost to produce 27,000 units?

Explain why airlines might be more likely to match price : explain why airlines might be more likely to match price cuts than price increases. (b) Which theory of oligopolistic behavior does the above situation most resemble?

Assessment of the sustainability of ups : How is FedEx performing? How, if at all, do is performance and plans affect your assessment of the sustainability of UPS's current performance?

Pension worksheet : pension worksheet

Explain the role of fermentation in allowing an organism : In the absence of oxygen some cells and organisms can use glycolysis coupled to fermentation to produce energy from the sugar created by photosynthesis.

What is the steady-state output per capita level : Assume an economy with an aggregate production function of the form Y = 1.5K. If the nation’s population grows at 5%, the rate of depreciation is 3%, and the savings rate is 8%, what is the steady-state output per capita level?

What will be the inflation rate : Suppose that consumer price index at year-end 2011 was 150 and by tear-end 2012 had risen to 160. What will be the inflation rate during 2012?

Budgeted direct-labor costs for june : The direct labor hours are 11,000 and the direct labor rate is $10.50. Budgeted direct-labor costs for June would be:

User Account

All Pages

Pension worksheet

Reference no: EM13148668

Reference no: EM13148668

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT