Solution-Prepare a pension worksheet for 2011 and any

Prepare a pension worksheet for 2011 and any journal entries

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Reference no: EM131109436

1. (Comprehensive 2-Year Worksheet) Hobbs Co. has the following defined-benefit pension plan balances on January 1, 2010.Projected benefit obligation $4,600,000Fair value of plan assets 4,600,000The interest (settlement) rate applicable to the plan is 10%. On January 1, 2011, the company amends its pension agreement so that prior service costs of $600,000 are created. Other data related to the pension plan are:

(a) Prepare a pension worksheet for the pension plan in 2010.

(b) Prepare any journal entries related to the pension plan that would be needed at December 31, 2010.

(d) Indicate the pension-related amounts reported in the 2011 financial statements.

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Reference no: EM131109436

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Prepare a pension worksheet for 2011 and any journal entries

Reference no: EM131109436

Reference no: EM131109436

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