ACC 537 help A Guide to career/uophelp.com ACC 537 help A Guide to career/uophelp.com | Page 15

www.uophelp.com
P20-1. On Jan 1, 2014cunningham/Harrington company has the
following defined benefit pension plan balances. Projected benefit
obligation 4,500,000 Fair value of plan assets 4,200,000 The interest
(settlement) rate applicable to the plan is 10%. On Jan 1, 2015 the
company amends its pension agreement so that prior service costs of
500,00 are created. other data related to the pension plan are as follows.
Year 2014 Service 150,000 Prior service cost amortization 0
Contribution (funding) to the plan 240,000 benefits paid 200,000 actual
return on plan assets 252,000 expected rate of return on assets 6% Year
2015 Service cost 180,000 prior service cost amortization 90,000
contributions (funding) ti the plan 285,000 benefits paid 280,000 actual
return on plan assets 260,000 expected rate of return on assets 8% A.
prepare a pension worksheet for the pension plan for 2014 and 2015 B.
for 2015 prepare the journal entry to record pension related amounts.
------------------------------------------------------------------------------------
ACC 537 Week 6 CA22-4 Analysis of Various Accounting
Changes and Errors (Solution and Presentation)
For more course tutorials visit
www.uophelp.com