p22-19 - 2700 Supplies Expense 1,600-1100 Supplies on Hand...

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Doreen Corp. Pension Worksheet for 2008 Items Cash Balance1/1/2008 13,800Cr. 560,000Cr.546,200Dr. Prior service cost 100,000Cr. 100,000Dr. New Balance 13,800Cr. 660,000Cr.546,200Dr.100,000Dr. Service cost 58,000Dr. 58,000Cr. interest cost 59,400Cr. 59,400Cr. Actual return 52,250Cr. 52,280Dr. Amortization 17,000Dr. 17,000Cr. Contributions 55,000Cr. 55,000Dr. Benefits 40,000Dr. 40,000Cr. Journal entry 12/31/08 27,600Cr. Balance 12/31/08 82,120Dr. 55,000Cr. 27,600Cr. 737,400Cr.613,480Dr.83,000Dr. Annual pension expense Prepaid/ac crued cost Projected benefit obligation Plan assets Unrecognized Prior service cost
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Projected benefit obligation 560,000 Plan assets 546,200 Prepaid/accrued pension cost 13,800 Prior service benefits 100,000 Settlement rate 0.9 Service cost 58,000 Contributions 55,000 Actual return on plan assets 52,280 Benefits paid to retirees 40,000 Prior service cost amortization for 2008 17,000 Balance of projected benefit obligation 560,000Cr. Prior service benefits 100,000Cr. New blance 660,000Cr. Settlement rate 0.90% Intereset cost 59,400Cr.
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Adjusting Journal Entries Dec. 31, 2008
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Unformatted text preview: 2700 Supplies Expense 1,600-1100 Supplies on Hand 1,600 1600 Wage Expense 2,900 4400 Accrued Wages 2,900-1500 2900 Interest Revenue 750 Interest Receivable 750 5100-4350 Insurance Expense 25,000 750 Prepaid Insurance 25,000 90000 Rental Revenue 14,000-65000 Rent Receivable 14,000 25000 Depreciation Expense 45,000 28000 Accumulated Depreciation 45,000 2 14000 Retained Earnings 7,200 Accumulated Depreciation 7,200 50000 Closing Adjusting Entries Dec. 31, 2008-5000 Retained Earnings 1600 45000 Supplies on Hand 1600 Retained Earnings 2,900 Accrued Wages 2,900 Retained Earnings 750 Interest Receivable on Investments 750 Retained Earnings 25,000 Prepaid Insurance 25,000 Retained Earnings 14,000 Rent Receivable 14,000 Retained Earnings 45,000 Accumulated Depreciation 45,000 Retained Earnings 7,200 Accumulated Depreciation 7,200 Dr. Cr. Supplies 2700 Accrued Wages 1500 Interest R 5100 Prepaid 90000 Rent Receivable...
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This note was uploaded on 06/26/2009 for the course ACC423 acc423 taught by Professor Fisher during the Spring '09 term at University of Phoenix.

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p22-19 - 2700 Supplies Expense 1,600-1100 Supplies on Hand...

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