User Account

All Pages

Prepare a pension worksheet for Jones Department Stores

Assignment Help Accounting Basics
Reference no: EM132799261

Question - Accounting for pension - Presented below is information related to Jones Department Stores, Inc. pension plan for 2015.

Projected benefit obligation, Jan 1, 2015 (before amendment) 470,000

Fair value of plan assets, Jan 1, 2014 360,000

On Jan 1, 2015, Jones through plan amendment, grants prior service

Benefits having a present value of 100,000

Service cost 54,000

Settlement rate 10%

Actual and expected return on plan assets 32,400

Amortization of prior service cost (due to benefit increase) 10,000

Funding contribution for 2015 480,000

Benefits paid to retirees 240,000

Required - Prepare a pension worksheet for Jones Department Stores that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

Reference no: EM132799261

Questions Cloud

Distinguishes between diversity-difference : In Allan G. Johnson, "Rodney King's Question", Johnson distinguishes between "diversity"/"difference" ("difference" need not imply inequality) and "privilege
Make transaction entries and adjustment entries of Heyi : Newspaper advertising fee of $85 has not been consumed. Make transaction entries and adjustment entries of Heyi Company
Demonstrate your values through your practices : The reading this week focused on topics related to what kind of teacher you are, what are your values, and the importance of promising less and doing more.
What strategies can you use to convince yourself to exercise : If you currently exercise: Describe your current fitness routine. Discuss why it works for you. Be sure to describe each exercise you perform and why.
Prepare a pension worksheet for Jones Department Stores : Prepare a pension worksheet for Jones Department Stores that shows the journal entry for pension expense and the year-end balances in related pension accounts
Notable changes that have impacted-impacting relationships : What are some of the most notable changes that have impacted/impacting relationships? What are two recent scholarly articles that expand on this question?
Examples of human subjects violations : Why is it important to know about past examples of human subjects violations? Describe 1 similarity and 1 difference between the past and current examples
Determine the consolidated net income : In the December 31, 2014 consolidated statement of financial position, determine the consolidated net income attributable to the parent company
How you could incorporate and implement use of technology : Discuss how you could incorporate and implement the use of technology to create a blended professional learning community across districts within your state.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much does Retained Earnings on the Balance Sheet

Suppose Net Income for a firm is $200 for the year and Dividends paid are $60. How much does Retained Earnings on the Balance Sheet change during the year

  What are sopa and pipa

What are SOPA and PIPA? What is their common goal? What else do they have in common?

  Write a statement of cash flows using the indirect method

Write a statement of cash flows using the indirect method for cash flows for operating activities

  What is the expected value

A particular stock has paid dividends of $0.50 per share in 12 of the last 15 payments. The other 3 times it has paid $0.25. What is the expected value

  Financial statements-adjusting and closing entries

(Financial Statements, Adjusting and Closing Entries) The trial balance of Belle my Fashion Center contained the following accounts at November 30, the end of the company's fiscal year.

  How does the transaction affect the financial statements

Abbott Company purchased $8,100 of merchandise inventory on account. Abbott uses the perpetual inventory method. How does the transaction affect the financial

  Charles jackson the accounting manager at big als has just

charles jackson the accounting manager at big als has just returned from a conference on activity-based costing in

  Explain factors that affect quality of earnings

Identify and explain factors that affect quality of earnings. Explain how the choice of one of the following accounting methods over the other raises or lowers.

  What was the journal entry for the purchaser to record

The credit terms were 2/10, n/30, FOB destination. The freight costs were $130. What was the journal entry for the purchaser to record this transaction?

  Prepare the companys planning budget for may

During May, Cockrel Corporation plans to serve 34,000 customers. Prepare the company's planning budget for May.

  Landon corporation was organized on january 2 2010 with the

statement of retained earningslandon corporation was organized on january 2 2010 with the investment of 100000 by each

  Home auto parts is a large retail auto parts store selling

home auto parts is a large retail auto parts store selling the full range of auto parts and supplies for do-it-yourself

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd