Final-CH20-PR02.Fina - (k Amortization of PSC 54,400 Dr 54,400 Cr(l Contributions 40,000 Cr 40,000 Dr(m Benefits 16,400 Dr 16,400 Cr Journal entry

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PROBLEM 20-2 20-41 (a) Katie Day Company Pension Worksheet—2008, 2009, 2010 General Journal Entries Memo Record Annual Pension Expense Cash Prepaid/ Accrued Cost Projected- Benefit Obligation Plan Assets Unrecognized Net Gain or Loss Unrecognized Prior Service Cost Balance, Jan. 1, 2008 200,000 Cr. 200,000 Dr. (a) Service cost 16,000 Dr. 16,000 Cr. (b) Interest cost 20,000 Dr. 20,000 Cr. (c) Actual return 17,000 Cr. 17,000 Dr. (d) Unexpected loss 3,000 Cr. 3,000 Dr. (e) Contributions 16,000 Cr. 16,000 Dr. (f) Benefits 14,000 Dr. 14,000 Cr. Journal entry, 12/31/08 16,000 Dr. 16,000 Cr. Balance, Dec. 31, 2008 222,000 Cr. 219,000 Dr. 3,000 Dr. (g) Prior service cost, 1/1/09 160,000 Cr. 160,000 Dr. Balance, Jan. 1, 2009 382,000 Cr. 219,000 Dr. 3,000 Dr. 160,000 Dr. (h) Service cost 19,000 Dr. 19,000 Cr. (i) Interest cost 38,200 Dr. 38,200 Cr. (j) Actual return 21,900 Cr. 21,900 Dr.
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Unformatted text preview: (k) Amortization of PSC 54,400 Dr. 54,400 Cr. (l) Contributions 40,000 Cr. 40,000 Dr. (m) Benefits 16,400 Dr. 16,400 Cr. Journal entry, 12/31/09 89,700 Dr. 40,000 Cr. 49,700 Cr. Balance, Dec. 31, 2009 49,700 Cr. 422,800 Cr. 264,500 Dr. 3,000 Dr. 105,600 Dr. (n) Service cost 26,000 Dr. 26,000 Cr. (o) Interest cost 42,280 Dr. 42,280 Cr. (p) Actual return 24,000 Cr. 24,000 Dr. (q) Unexpected loss 2,450 Cr. 2,450 Dr. (r) Amortization of PSC 41,600 Dr. 41,600 Cr. (s) Contributions 48,000 Cr. 48,000 Dr. (t) Benefits 21,000 Dr. 21,000 Cr. (u) Unexpected liability loss 49,920 Cr. 49,920 Dr. Journal entry, 12/31/10 83,430 Dr. 48,000 Cr. 35,430 Cr. Balance, Dec. 31, 2010 85,130 Cr. 520,000 Cr. 315,500 Dr. 55,370 Dr. 64,000 Dr....
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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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