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Current Attempt in Progress Blossom Company provides the following information about its defined benefit pension plan for the year 2020. $ 89,400 Service cost Contribution to the plan 104,800 Prior service cost amortization 9,700 Actual and expected return on plan assets 64,400 Benefits paid 40,800 Plan assets at January 1, 2020 627,300 Projected benefit obligation at January 1, 2020 697,700 Accumulated OCI (PSC) at January 1, 2020 149,700 Interest/discount (settlement) rate 10 % Compute the pension expense for the year 2020. Pension expense for 2020

Sarasota Company provides the following information about its defined benefit pension plan for the year 2020. Service cost   $ 88,500   Contribution to the plan   107,100   Prior service cost amortization   10,600   Actual and expected return on plan assets   63,100   Benefits paid   40,800   Plan assets at January 1, 2020   648,000   Projected benefit obligation at January 1, 2020   688,100   Accumulated OCI (PSC) at January 1, 2020   148,600   Interest/discount (settlement) rate   11 % Compute the pension expense for the year 2020. Pension expense for 2020   $enter the Pension expense for 2020 in dollars

Buffalo Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 Projected benefit obligation   $2,761,900 Accumulated benefit obligation   1,970,300 Fair value of plan assets   2,283,700 Accumulated OCI (PSC)   207,900 Accumulated OCI—Net loss (1/1/20 balance, 0)   45,600 Pension liability   478,200 Other pension plan data for 2020:        Service cost   $94,400    Prior service cost amortization   42,000    Actual return on plan assets   128,900    Expected return on plan assets   174,500    Interest on January 1, 2020, projected benefit obligation   251,500    Contributions to plan   94,200    Benefits paid   141,200 (a)     Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) Components of Pension…

rane importers provides the following pension plan Fair value of pension plan assets, January 1, 2025 Fair value of pension plan assets, December 31, 2025 Contributions to the plan in 2025 Benefits paid retirees in 2025 Tormation. Actual return on plan assets for 2025 $ $2,575,000 2,914,000 299,000 366,000 From the data above, compute the actual return on the plan assets for 2025.

age Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $198,200; projected benefit obligation $251,000. Other data relating to 3 years’ operation of the plan are as follows.     2019   2020   2021 Annual service cost   $16,300     $19,100     $26,400   Settlement rate and expected rate of return   10 %   10 %   10 % Actual return on plan assets   18,400     21,870     24,000   Annual funding (contributions)   16,300     39,200     47,700   Benefits paid   14,200     16,100     21,400   Prior service cost (plan amended, 1/1/20)         161,700         Amortization of prior service cost         54,100     41,700   Change in actuarial assumptions establishesa December 31, 2021, projected benefit obligation of:               524,600     a. How to  prepare a pension worksheet presenting all 3 years’ pension balances and activities.

The following information regarding Buffalo Ltd.’s defined benefit pension plan was taken from the company’s records for 2020: Defined Benefit Obligation, January 1   $9,941,000 Actual return on plan assets   434,000 Benefits paid to retirees   848,000 Current year service cost   1,210,000 Interest cost   496,000 Employer contributions for the year   998,000 Pension Plan Assets, January 1   8,832,000       Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Sandhill Company provides the following selected information related to its defined benefit pension plan for 2025. Pension asset/liability (January 1) $25.500 Cr. Accumulated benefit obligation (December 31) 403,100 Actual and expected return on plan assets 9,000 Contributions (funding) in 2025 148,600 Fair value of plan assets (December 31) 795,800 Settlement rate 10% Projected benefit obligation (January 1) 702.800 Service cost 79.580 (a1) Your answer is correct. Compute pension expense. Pension expense for 2025 $ 140860 i Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2025. Preparation of a pension worksheet is not required. Benefits paid in 2025 were $39,100. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and…

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Preparing a Pension Worksheet Levine Co. sponsored a defined benefit plan, which included January 1, 2020, balances of $3,000 and $2,880 in Plan Assets and Projected Benefit Obligation, respectively. During 2020, the company incurred $600 in service cost, made plan contributions of $126, and paid benefits to retirees for $90. The discount rate is 9% and the expected and actual rate of return on plan assets is 10%. Prepare a pension worksheet for 2020.Note: Use a negative sign for credits to accounts. Pension Worksheet Reported Net in Financial Statements Balance Sheet   Income Statement   PlanAssets PBO Net PensionAsset/Liability CashOutflow PensionExpense Balance, January 1, 2020           Service cost           Interest cost           Expected return           Contributions to fund           Benefit payments           Balance, December 31, 2020