Class_12_Solns - EXERCISE 20-18 (a) Below is the completed...

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EXERCISE 20-18 (a) Below is the completed worksheet, indicating debit and credit entries. General Journal Entries Memo Record Annual Pension Expense Cash OCI—Prior Service Cost OCI—Gain/ Loss Pension Asset/Liability Projected Benefit Obligation Plan Assets Balance, Jan. 1, 2011 1,100 Cr. 2,800 Cr. 1,700 Dr. Service cost 400 Dr. 400 Cr. Interest cost 280 Dr. 280 Cr. Actual return 320 Cr. 320 Dr. Unexpected gain 150 Dr. 150 Cr. Amortization of PSC 55 Dr. 55 Cr. Contributions 800 Cr. 800 Dr. Benefits 200 Dr. 200 Cr. Liability increase 365 Dr. 365 Cr. Journal entry 565 Dr. 800 Cr. 55 Cr. 215 Dr. 75 Dr. Accumulated OCI, Dec. 31, 2010 1,100 Dr. 0 Balance, Dec. 31, 2011 1,045 Dr. 215 Dr. 1,025 Cr. 3,645 Cr. 2,620 Dr. (b) Pension Expense. ................................. 565 Other Comprehensive Income (G/L). .. 215 Pension Asset/Liability. ....................... 75 Cash. .................................................. 800 Other Comprehensive Income (PSC) 55 (c) Henin records no amortization of gain or loss in 2011, because there were no gains or
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This note was uploaded on 10/14/2009 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue University.

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Class_12_Solns - EXERCISE 20-18 (a) Below is the completed...

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