Final-CH20-EX04.Fina - Journal entry,950 Dr 30,000 Cr 1,950 Cr Balance 1,950 Cr 538,250 Cr 536,300 Dr(b $41,650 = $490,000 X.085*Note We show

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XERCISE 20-4 (10–15 minutes) 20-16 Trudy Borke Inc. Pension Worksheet—2008 General Journal Entries Memo Record Items Annual Pension Expense Cash Prepaid/ Accrued Cost Projected Benefit Obligation Plan Assets Balance, January 1, 2008 490,000 Cr. 490,000 Dr. (a) Service cost 40,000 Dr. 40,000 Cr. (b) Interest cost 41,650 Dr. 41,650 Cr. (c) Actual return* 49,700 Cr. 49,700 Dr. (d) Contributions 30,000 Cr. 30,000 Dr. (e) Benefits 33,400 Dr. 33,400 Cr.
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Unformatted text preview: Journal entry, December 31 31,950 Dr. 30,000 Cr. 1,950 Cr. Balance, December 31, 2008 1,950 Cr. 538,250 Cr. 536,300 Dr. (b) $41,650 = $490,000 X .085. *Note: We show actual return on the worksheet to ensure that plan assets are properly reported. If expected and actual return differ, then an additional adjustment is made to compute the proper amount of pension expense....
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This note was uploaded on 04/13/2008 for the course ACCOUNTING BUS4062 taught by Professor Daniels during the Spring '08 term at Capital University.

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