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prepare a pension worksheet for Eagle Homes that shows the journal entry for pension expense

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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#25201 | Written in 18-Jul-2015

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