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E20-7B (Basic Pension Worksheet) The following def...

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E20-7B (Basic Pension Worksheet) The following defined pension data of Eagle Homes Corporation apply to the year 2014. Projected benefit obligation, January 1, 2014 (before amendment) $1,255,000 Plan assets, January 1, 2014 1,195,600 Pension liability, January 1, 2014 59,400 On January 1, 2014, Eagle Home Corp., through plan amendment, grants prior service benefits having a present value of 200,000 Settlement rate 6% Service cost 69,000 Contributions (funding) 85,000 Actual and expected return on plan assets 43,610 Benefits paid to retirees 52,000 Prior service cost amortization for 2014 25,000 Instructions For 2014, prepare a pension worksheet for Eagle Homes that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

 

Paper#11247 | Written in 18-Jul-2015

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