Alpha Corp sponsors a defined benefit pension plan for its employees. On January 1,2012 the following balances relate to this plan: Plan assets Projected benefit obligations Accumulated OCI from Prior Service Cost (PSC) As a result of the operation of the plan during 2012, the following data are provided by the actuary. Service cost for 2012 Settlement rate Actual return on plan assets in 2012 Amortization of prior service cost Contributions 2012 Benefits paid to retirees in 2012 Required a. Prepare a pension worksheet for 2021 $5,495,000 6,275,000 620,000 325,000 10% 610,000 49,000 415,000 385,000
Alpha Corp sponsors a defined benefit pension plan for its employees. On January 1,2012 the following balances relate to this plan: Plan assets Projected benefit obligations Accumulated OCI from Prior Service Cost (PSC) As a result of the operation of the plan during 2012, the following data are provided by the actuary. Service cost for 2012 Settlement rate Actual return on plan assets in 2012 Amortization of prior service cost Contributions 2012 Benefits paid to retirees in 2012 Required a. Prepare a pension worksheet for 2021 $5,495,000 6,275,000 620,000 325,000 10% 610,000 49,000 415,000 385,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 7E
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