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Unformatted text preview: 21,000 *as of 1/1/09. FACTS AND ASSUMPTIONS Expected period to full eligibility of employees is 10 years for all years. Past service costs are not vested for 10 years. Contributions to the plan, as well as payments to retirees, are made evenly over the year. Current service cost is deemed to be effective as at the beginning of each year. The Company elects to use the corridor method and therefore not recognize gains and losses through Other Comprehensive income/ An actuarial valuation resulted in a pension plan liability of $520,000 as of 31/12/2010. REQUIRED : Prepare pension worksheets and related journal entries for the 3 year period....
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- Spring '11