Exercise_20-7_Worksheet

Exercise_20-7_Worksheet - $17,000 Cr(6 Contributions...

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Ex20-7 Doreen Corp. Pension Worksheet-2011 Formal Accounts Other Comp. Income Annual Pension Pension Prior Service Gains/ Asset/ Expense Cash Cost Losses Liability PBO FVPA Items Balance, 1/1/2011 $0 $13,800 Cr $560,000 Cr $546,200 Dr Amendment for PSC $120,000 Dr $120,000 Cr (1) Service Cost $58,000 Dr $58,000 Cr (2) Interest Cost $61,200 Dr $61,200 Cr (3) Actual return $52,280 Cr $52,280 Dr (4) UnExpected Loss 0 0 (5) Amortization of PSC $17,000 Dr
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Unformatted text preview: $17,000 Cr (6) Contributions $65,000 Cr $65,000 Dr (7) Benefits $40,000 Dr $40,000 Cr Journal Entry $83,920 Dr $65,000 Cr $103,000 Dr $121,920 Cr Balance 12/31/2011 $ 103,000 Dr 0 $135,720 Cr $759,200 Cr $623,480 Dr Reconciliation Schedule PBO $759,200 Cr FVPA $623,480 Dr Funded Status (Under) ($135,720) Should tie back to ending balance in Pension/Asset Liablity...
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