At January 1, 2025, Carla Vista Company had plan assets of $293,300 and a projected benefit obligation of the same amount. During 2025, service cost was $26,400, the settlement rate was 10%, actual and expected return on plan assets were $25,000, contributions were $20,400, and benefits paid were $17,600. Prepare a pension worksheet for Carla Vista for 2025. (Enter all amounts as positive.) Items Balance 1/1/25 Service cost Interest cost Actual return Contributions Benefits Journal entry Balance, 12/31/25 $ $ Pension Expense $ General Journal Entries Cash CARLA VISTA COMPANY $ $ Pension Asset/Liability V $ Projected Benefit Obligation Memo Record V $ $ Plan Assets V V V V v ▸

At January 1, 2025, Carla Vista Company had plan assets of $293,300 and a projected benefit obligation of the same amount. During 2025, service cost was $26,400, the settlement rate was 10%, actual and expected return on plan assets were $25,000, contributions were $20,400, and benefits paid were $17,600. Prepare a pension worksheet for Carla Vista for 2025. (Enter all amounts as positive.) Items Balance 1/1/25 Service cost Interest cost Actual return Contributions Benefits Journal entry Balance, 12/31/25 $ $ Pension Expense $ General Journal Entries Cash CARLA VISTA COMPANY $ $ Pension Asset/Liability V $ Projected Benefit Obligation Memo Record V $ $ Plan Assets V V V V v ▸

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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