P20-1. On Jan 1, 2010 cunningham company has the following defined benefit bounty excogitation balances. Projected benefit obligation 4,500,000 Fair give the axe of send off assets 4,200,000 The interest (settlement) rate applicable to the plan is 10%. On Jan 1, 2011 the company amends its pension agreement so that prior service tolls of 500,00 are created. other data related to to the pension plan are as follows. stratum 2010 military service 150,000 Prior service cost amortisation 0 component (funding) to the plan 240,000 benefits paid 200,000 actual legislate on plan assets 252,000 expected rate of return on assets 6% stratum 2011 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. germinate a pension worksheet for the pension plan for 2010 and 2011 B. for 2011 prepare the journal entry to record pension related amou nts.
----------------------- |(a) CUNNINGHAM confederation | |Pension Worksheet2010 and 2011 | | |General Journal Entries ! |Memo discharge | | | yearbook | |OCIPrior | | |Projected | | | |Pension | |Service make up |OCIGain/ |Pension |Benefit |Plan | |Items |Expense | retention | |Loss |Asset/Liability...If you want to get a in force(p) essay, order it on our website:
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