Business, 30.03.2020 16:56 bandchick527
Veldre Company provides the following information about its defined benefit pension plan for the year 2020.
Service cost $ 90,000
Contribution to the plan 105,000
Prior service cost amortization 10,000
Actual and expected return on plan assets 64,000
Benefits paid 40,000
Plan assets at January 1, 2020 640,000
Projected benefit obligation at January 1, 2020 700,000
Accumulated OCI (PSC) at January 1, 2020 150,000
Interest/discount (settlement) rate 10 %
Compute the pension expense for the year 2020.Prepare a pension worsheet inserting January 1 2020, balances, and journal entry recording pension expense.
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Veldre Company provides the following information about its defined benefit pension plan for the yea...
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