Prepare the journal entry to record pension expense

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Reference no: EM131212999

The following information is available for the pension plan of Radcliffe Company for the year 2014. Actual and expected return on plan assets $ 15,000 Benefits paid to retirees 40,000 Contributions (funding) 90,000 Interest/discount rate 10 % Prior service cost amortization 8,000 Projected benefit obligation, January 1, 2014 500,000 Service cost 60,000 Compute pension expense for the year 2014. Pension expense for 2014 $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

Reference no: EM131212999

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