Doreen Corp. and Basic Pension Work Sheet
E20-7 (Basic Pension Work Sheet) The following defined
pension data of Doreen Corp. apply to the year 2005.
Projected benefit obligation, 1/1/05 (before amendment)
$560,000
Plan assets, 1/1/05 546,200
Prepaid/accrued pension cost (credit) 13,800
On January 1, 2005, Doreen Corp., through plan amendment,
grants prior service benefits having a present value of
100,000
Settlement rate 9%
Annual pension service cost 58,000
Contributions (funding) 55,000
Actual return on plan assets 52,280
Benefits paid to retirees 40,000
Prior service cost amortization for 2005 17,000
Instructions
For 2005, prepare a pension work sheet for Doreen Corp. that
shows the journal entry for pension expense and the year-end
balances in the
related pension accounts.
Doreen Corp. and Basic Pension Work Sheet
E20-7 (Basic Pension Work Sheet) The following defined
pension data of Doreen Corp. apply to the year 2005.
Projected benefit obligation, 1/1/05 (before amendment)
$560,000
Plan assets, 1/1/05 546,200
Prepaid/accrued pension cost (credit) 13,800
On January 1, 2005, Doreen Corp., through plan amendment,
grants prior service benefits having a present value of
100,000
Settlement rate 9%
Annual pension service cost 58,000
Contributions (funding) 55,000
Actual return on plan assets 52,280
Benefits paid to retirees 40,000
Prior service cost amortization for 2005 17,000
Instructions
For 2005, prepare a pension work sheet for Doreen Corp. that
shows the journal entry for pension expense and the year-end
balances in the
related pension accounts.
Doreen Corp. and Basic Pension Work Sheet
E20-7 (Basic Pension Work Sheet) The following defined
pension data of Doreen Corp. apply to the year 2005.
Projected benefit obligation, 1/1/05 (before amendment)
$560,000
Plan assets, 1/1/05 546,200
Prepaid/accrued pension cost (credit) 13,800
On January 1, 2005, Doreen Corp., through plan amendment,
grants prior service benefits having a present value of
100,000
Settlement rate 9%
Annual pension service cost 58,000
Contributions (funding) 55,000
Actual return on plan assets 52,280
Benefits paid to retirees 40,000
Prior service cost amortization for 2005 17,000
Instructions
For 2005, prepare a pension work sheet for Doreen Corp. that
shows the journal entry for pension expense and the year-end
balances in the
related pension accounts.
Doreen Corp. and Basic Pension Work Sheet
E20-7 (Basic Pension Work Sheet) The following defined
pension data of Doreen Corp. apply to the year 2005.
Projected benefit obligation, 1/1/05 (before amendment)
$560,000
Plan assets, 1/1/05 546,200
Prepaid/accrued pension cost (credit) 13,800
On January 1, 2005, Doreen Corp., through plan amendment,
grants prior service benefits having a present value of
100,000
Settlement rate 9%
Annual pension service cost 58,000
Contributions (funding) 55,000
Actual return on plan assets 52,280
Benefits paid to retirees 40,000
Prior service cost amortization for 2005 17,000
Instructions
For 2005, prepare a pension work sheet for Doreen Corp. that
shows the journal entry for pension expense and the year-end
balances in the
related pension accounts.
