Prepare a pension worksheet to shows the journal entry

Reference no: EM1348112

The following defined pension data of Doreen Corp. apply to the year 2008.

Projected benefit obligation, 1/1/08 (before amendment) $560,000
Plan assets, 1/1/08 546,200
Prepaid/accrued pension cost (credit) 13,800
On January 1, 2008, Doreen Corp., through plan amendment,
grants prior service benefits having a present value of 100,000
Settlement rate 9%
Service cost 58,000
Contributions (funding) 55,000
Actual (expected) return on plan assets 52,280
Benefits paid to retirees 40,000
Prior service cost amortization for 2008 17,000

Instructions

For 2008, prepare a pension worksheet for Doreen Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

Reference no: EM1348112

Questions Cloud

How far would it coast before starting to roll back down : A parallel beam of light from a He-Ne laser, with wavelength of 644 nm, falls on two very narrow slits 0.05 mm apart. How far apart are the fringes in the center of the pattern on a screen 2.2m away.

Managerial accounting-planning and controlling : How is managerial accounting working for planning and controlling? Point out any specific roles of managerial accounting compared with other organizations.

Design a non-monetary incentive program : Explain how do you design a non-monetary incentive program for a group of people and what impact does motivational-theories have on non-monetary incentive programs? Is there a link between the two?

Types of cable to make connection : Bank Corp. is planning new network. Engineers in design shop should have connections to accountants and salespeople in front officeWhat types of cable will work to make this connection?

Prepare a pension worksheet to shows the journal entry : The following defined pension information of Doreen Corporation apply to the year 2008. For 2008, make a pension sheet for firm that demonstrate journal entry for pension expense.

Manage change in an organization : Choose two principles listed and discuss your opinion of how they reflect good concepts for effective management and Explain some specific techniques that can be used to manage change in an organization

The program promoted the use of new technology : The program promoted the use of new technology for efficiency. The creation of worthy jobs. Consumerism and safe work environments. Consumerism and the right to be heard.

What is the current running through the whole circut : A 340 g air track cart traveling at 1.25 m/s collides elastically with the 300 g cart traveling in the opposite direction at 1.33m/s. What is the speed of the 300g cart after collision.

Managerial compensation-ownership and control : Critically describe how managerial compensation can aid align the interests of shareholders and manager, and hence be effective in mitigating the costly consequences and effects of separation of ownership and control.

User Account

All Pages