The following information is available for the pension plan of Windsor Company for the year 2020. Compute pension expense for the year 2020: Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2020. Actual and expected return on plan assets $ 14,900 Benefits paid to retirees 42,000 Contributions (funding) 83,300 Interest/discount rate 9 % Prior service cost amortization 7,700 Projected benefit obligation, January 1, 2020 511,000 Service cost 55,100

The following information is available for the pension plan of Windsor Company for the year 2020. Compute pension expense for the year 2020: Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2020. Actual and expected return on plan assets $ 14,900 Benefits paid to retirees 42,000 Contributions (funding) 83,300 Interest/discount rate 9 % Prior service cost amortization 7,700 Projected benefit obligation, January 1, 2020 511,000 Service cost 55,100

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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Actual and expected return on plan assets	$ 14,900
Benefits paid to retirees	42,000
Contributions (funding)	83,300
Interest/discount rate	9	%
Prior service cost amortization	7,700
Projected benefit obligation, January 1, 2020	511,000
Service cost	55,100