At January 1, 2025, Ivanhoe Company had plan assets of $300,400 and a projected benefit obligation of the same amount. During 2025, service cost was $27,500, the settlement rate was 10%, actual and expected return on plan assets were $25,900, contributions were $20,100, and benefits paid were $17,800. Prepare a pension worksheet for Ivanhoe for 2025. (Enter all amounts as positive)

Splish Corporation has the following balances at December 31, 2020. Projected benefit obligation   $2,464,000 Plan assets at fair value   1,906,000 Accumulated OCI (PSC)   1,155,000 What is the amount for pension liability that should be reported on Splish' balance sheet at December 31, 2020? Pension liability balance at December 31, 2020:

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At January 1, 2020, Windsor Company had plan assets of $303,400 and a projected benefit obligation of the same amount. During 2020, service cost was $26,700, the settlement rate was 10%, actual and expected return on plan assets were $24,500, contributions were $19,700, and benefits paid were $16,900.Prepare a pension worksheet for Windsor Company for 2020. WINDSOR COMPANY     General Journal Entries   Memo Record Items   PensionExpense   Cash   PensionAsset/Liability   ProjectedBenefitObligation   PlanAssets 1/1/20   $enter a dollar amount    select a debit or credit                                                               $enter a dollar amount    select a debit or credit                                                               $enter a dollar amount    select a debit or credit                                                               $enter a dollar amount    select a debit or credit…

Calculating Pension Expense Stars Inc. has a noncontributory defined pension plan for its employees. During 2020, the company had service cost of $90,000, an expected return on plan assets of $13,920, amortization of prior service cost of $3,000, amortization of net pension loss of $3,333, and benefits paid to employees of $60,000. The January 1, 2020, balance in its projected benefit obligation was $291,000. The discount rate is 10%.  Required  Calculate pension expense for 2020.   $Answer

At January 1, 2017, Hennein Company had plan assets of $280,000 and a projected benefit obligation of the same amount. During 2017, service cost was $27,500, the settlement rate was 10%, actual and expected return on plan assets were $25,000, contributions were $20,000, and benefits paid were $17,500. Prepare a pension worksheet for Hennein Company for 2017.

The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2024 and 2025 are presented below ($ in millions): Information Provided by Pension Plan Actuary: a. Projected benefit obligation as of December 31, 2023 = $3,350. b. Prior service cost from plan amendment on January 2, 2024 = $650 (straight-line amortization for 10-year average remaining service period). c. Service cost for 2024 = $650. d. Service cost for 2025 = $700. e. Discount rate used by actuary on projected benefit obligation for 2024 and 2025 = 10%. f. Payments to retirees in 2024 $510. g. Payments to retirees in 2025 $580. h. No changes in actuarial assumptions or estimates. 1. Net gain-AOCI on January 1, 2024 = $375. J. Net gains and losses are amortized for 10 years in 2024 and 2025. Information Provided by Pension Fund Trustee: a. Plan asset balance at fair value on January 1, 2024 = $2,400. b. 2024 contributions $670. c. 2025 contributions $720. d. Expected long-term rate…

Presented below is information related to Mikell Department Stores, Inc. pension plan for 2022.   Service cost   375,000 Funding contribution for 2022   300,000 Settlement rate used in actuarial computation   8% Expected and actual return on plan assets   7% Amortization of Prior Service Costs   70,000 Amortization of net gains   35,000 Projected benefit obligation (at beginning of year)   420,000 Market-related (and fair) value of plan assets (at beginning of year)   380,000   No benefits were paid during 2022.   Required:   (a) Compute the amount of pension expense to be reported for 2022.  (b) Prepare the journal entry to record pension expense for 2022.

Oriole Company provides the following selected information related to its defined benefit pension plan for 2025. Pension asset/liability (January 1) $24,900 Cr. Accumulated benefit obligation (December 31) 402,300 Actual and expected return on plan assets 10,900 Contributions (funding) in 2025 151,500 Fair value of plan assets (December 31) 805,100 Settlement rate 10% Projected benefit obligation (January 1) 697,100 Service cost 80,510 (a1) × Your answer is incorrect. Compute pension expense. Pension expense for 2025 $ 149320

JDS Shipyard’s projected benefit obligation, accumulated benefit obligation, and plan assets were $40 million, $30 million, and $25 million, respectively, at the end of the year. What, if any, pension liability must be reported in the balance sheet? What would JDS report if the plan assets were $45 million instead?