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Prepare all journal entries and compute ending balances

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Reference no: EM133059246

Question - On January 1, 2020, Stine Co. had the following balances:

Projected benefit obligation $7,200,000

Fair value of plan assets 7,100,000

Other data related to the pension plan for 2020:

Service cost 315,000

Contributions to the plan 459,000

Benefits paid 450,000

Interest rate 5%

Actual return 355,000

Prepare a pension worksheet and all journal entries for 2020 OR.

Prepare all journal entries and compute ending balances for PBO & PA.

Reference no: EM133059246

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