P20-8 - P20-8(Comprehensive 2-Year Worksheet Glesen Company...

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P20-8 The following data relate to the operation of the plan for the years 2008 and 2009. 2008 2009 $650,000 410,000 80,000 12,300 12,300 160,000 Service cost 40,000 Settlement rate 0.1 0.1 Expected rate of return 0.1 0.1 Actual return on plan assets 36,000 61,000 70,000 55,000 Annual contributions 72,000 81,000 Benefits paid retirees 31,500 54,000 87,000 721,800 789,000 20 years 464,000 Instructions a) Prepare a pension worksheet presenting both years 2008 and 2009 and accompanying computatio and amortization of the unrecognized loss (2009) using the corridor approach. (Comprehensive 2-Year Worksheet) Glesen Company sponsors a defined benefit pension plan for it Projected benefit obligation, January 1 Plan assets (fair value and market related value), January 1 Prepaid/accrued pension cost (credit), January 1 Additional pension liability, January 1 Intangible asset-deferred pension cost, January 1 Unrecognized prior service cost, January 1 $ 59,000 Amortization of prior service cost Increase in projected benefit
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This note was uploaded on 08/14/2011 for the course ACCT 423 taught by Professor R.becksted during the Spring '09 term at University of Phoenix.

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P20-8 - P20-8(Comprehensive 2-Year Worksheet Glesen Company...

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