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Final-CH20-PR09.Final - Mount Company Pension...

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P R O B L E M   2 0 - 9   ( C o n t i n u e d ) 2 0 - 6 1 (a) Mount Company Pension Worksheet—2006 and 2007 General Journal Entries Memo Record Items Annual Pension  Expense Cash Prepaid/ Accrued Cost Projected  Benefit      Obligation Plan   Assets Unrecognized Prior  Service Cost Unrecognized Net Gain  or Loss Balance, Jan. 1, 2006 4,500,000 Cr. 4,500,000 Dr. (a) Service cost 150,000 Dr. 150,000 Cr. (b) Interest cost 450,000 Dr. 450,000 Cr. (c) Actual return 252,000 Cr. 252,000 Dr. (d) Unexpected loss 18,000 Cr. 18,000 Dr. (e) Funding 150,000 Cr. 150,000 Dr. (f) Benefits                                  220,000 Dr. 220,000 Cr. Journal entry, 12/31/06 330,000  Dr. 150,000  Cr. 180,000  Cr.                                             Balance, Dec. 31, 2006 180,000 Cr. 4,880,000 Cr. 4,682,000 Dr. 18,000 Dr. (g) Prior service cost, 1/1/07 600,000 Cr. 600,000 Dr. (h) Service cost 170,000 Dr. 170,000 Cr. (i) Interest cost 548,000 Dr. 548,000 Cr. (j) Actual return 250,000 Cr. 250,000 Dr. (k) Unexpected loss 124,560 Cr. 124,560 Dr. (l) Amortization of PSC 90,000 Dr.
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