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Comprehensive 2-Year Worksheet)

Comprehensive 2-Year Worksheet) - Glesen Company Pension...

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Glesen Company Pension Worksheet Balance, Jan. 1 2008 Cash Service cost 40,000Dr. 80,000Cr. 12,300Cr. 12,300Dr. Interest cost 65,000 Dr. Actual return 36,000Dr. Unexpected loss 5,000Cr. Amortization 70,000Dr. Contributions 72,000Cr. Benefits Liability loss Minimum liabilityAdj. 81,000Cr. 77,700Dr. 3,300Dr. Journal Entry 2008 134,000Dr. 72,000Cr. 62,000Cr. Balance for 12/31/08 142,000Cr.93,300Cr. 90,000Dr. 3,300Dr. Service cost 59,000Dr. Interest cost 81,050Dr. Actual return 61,000Cr. Unexpected gain 12,350Dr. Amortization 55,000Dr. Contributions 81,000Cr. Benefits Unrecog. Loss Amort 548Dr. Minimum liability Adj. 86,748Dr. 83,448Cr. 3,300Cr. Journal Entry 2009 146,948Dr. 81,000Cr. 65,948Cr. Balance for 12/31/09 207,948Cr.6,552Cr. 6,552Dr. 0 Glesen Company Pension Worksheet , 2008 and 2009 Item 2008 650,000Cr. 410,000Dr.160,000Dr. Service cost 40,000Cr. Interest cost 65,000Cr. Actual return 36,000Dr. Unexpected loss 5,000Dr. Amortization 70,000Cr. Contributions 72,000Dr. Benefits 31,500Dr. 31,500Cr. Liability loss 87,000Cr. 87,000Cr. Minimum liability Adj. Journal Entry for 2008 Balance 12/31/08 810,500Cr. 486,500Dr.90,000Dr. 92,000Dr. Annual Pension Expense Prepaid- accured cost Additional Liability Pension Intangible Contra Equity Charge Projected benefit obligation Plan assets Unrecogni zed prior service cost Unrecogni zed net gain or loss
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