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The following defined pension data of Doreen Corp. apply to the

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(Basic Pension Worksheet) The following defined pension data of Doreen Corp. apply to the;year 2008.;Projected benefit obligation, 1/1/08 (before amendment) $560,000;Plan assets, 1/1/08 546,200;Prepaid/accrued pension cost (credit) 13,800;On January 1, 2008, Doreen Corp., through plan amendment;grants prior service benefits having a present value of 100,000;Settlement rate 9%;Service cost 58,000;Contributions (funding) 55,000;Actual (expected) return on plan assets 52,280;Benefits paid to retirees 40,000;Prior service cost amortization for 2008 17,000;Instructions;For 2008, prepare a pension worksheet for Doreen Corp. that shows the journal entry for pension expense;and the year-end balances in the related pension accounts.

 

Paper#27308 | Written in 18-Jul-2015

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