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p20-8 - (A Lemke Company Pension Work Sheet 2010 and 2011...

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(A) Lemke Company Pension Work Sheet -- 2010 and 2011 General Journal Entries Memo Record (B) Date Account Title Debit Credit Other Comprehensive Income 12/31/10 Pension Expense 129,000 Annual dr/ dr/ dr/ dr/ Pension dr/ Projected dr/ dr/ Other Comprehensive Income - G/L 92,000 Pension cr cr cr Gain / cr Asset / cr Benefit cr Plan cr Cash 97,000 Items Expense Cash PSC Loss Liability Obligation Assets Other Comprehensive Income (PSC) 70,000 Balance, Jan 1, 2010 (190,000) cr (600,000) cr 410,000 dr Pension Asset / Liability 54,000 Service cost 40,000 dr (40,000) cr Interest cost 60,000 dr (60,000) cr 12/31/11 Pension Expense 134,223 Actual return (36,000) cr 36,000 dr Pension Asset / Liability 7,450 Unexpected loss (5,000) cr 5,000 dr Cash 81,000 Amortization of PSC 70,000 dr (70,000) cr Other Comprehensive Income - PSC 50,000 Annual contributions/funding (97,000) cr 97,000 dr Other Comprehensive Income - G/L 10,673 Benefits 31,500 dr (31,500) cr Increase in pension obligation 87,000 dr (87,000) cr Journal entry, 12/31/07 129,000 dr (97,000) cr (70,000) cr 92,000 dr (54,000) cr Accumulated OCI, Jan. 1, 2010 160,000 dr 0 Balance, Dec. 31, 2010 90,000 dr 92,000 dr (244,000) cr (755,500)
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