Complete the pension worksheet below for the year 2014. Construct a new pension worksheet to submit in Excel or Word format, using the sample worksheet below

Acct 311 Intermediate Accounting II

Week 6 Homework

 

 

The following information is available for the pension plan of Jones 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

Instructions

(a)   Complete the pension worksheet below for the year 2014.  Construct a new pension worksheet to submit in Excel or Word format, using the sample worksheet below.
(b)   Prepare the journal entry to record pension expense and the employer’s contribution to

the pension plan in 2014.

 

(a)

(b) Prepare the journal required journal entry.

 

 

 

 

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