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ACC - E20-7B - Eagle Homes Corporation




Question;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) $1,255,000Plan assets, January 1, 2014 1,195,600Pension liability, January 1, 2014 59,400On January 1, 2014, Eagle Home Corp., through plan amendment,grants prior service benefits having a present value of 200,000Settlement rate 6%Service cost 69,000Contributions (funding) 85,000Actual and expected return on plan assets 43,610Benefits paid to retirees 52,000Prior service cost amortization for 2014 25,000InstructionsFor 2014, prepare a pension worksheet for Eagle Homes that shows the journal entry for pension expenseand the year-end balances in the related pension accounts.


Paper#40454 | Written in 18-Jul-2015

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