Reference no: EM132462680
Problem - Ludell Corp. shows the following data:
Projected benefit obligation 1/1/19 - $100,000
Plan Assets 1/1/19 - $100,000
Settlement rate - 10% Service Cost - $9,000 Contribution - $8,000
Actual/expected returns-$10,000 Benefits paid - $7,000
PSC amortization - $2,000.
Required -
A. Makes the pension worksheet showing the journal entry for pension expense.
B. Show Year End balances in the pension accounts (Memo record and OCI accounts included).
C. Indicate amounts to be reported on Balance sheet and Income statements.
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