Business, 25.02.2021 18:00 harleyguerrieri
Presented below is information related to Wildhorse Department Stores, Inc. pension plan for 2021. Accumulated benefit obligation (at year-end) $710,000 Service cost 650,000 Funding contribution for 2021 590,000 Settlement rate used in actuarial computation 9% Expected return on plan assets 8% Amortization of PSC (due to benefit increase) 111,000 Amortization of net gains 59,000 Projected benefit obligation (at beginning of period) 580,000 Fair value of plan assets (at beginning of period) 470,000
Compute the amount of pension expense to be reported for 2021.
Pension expense $
Prepare the journal entry to record pension expense and the employer's contribution for 2021.
Account Titles and Explanation Debit Credit
Answers: 3
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Presented below is information related to Wildhorse Department Stores, Inc. pension plan for 2021. A...
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