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University of Phoenix Online Accounting 423 Week 5 - Individual Assignments James L. Eads, CPA, MST, MSF Grading:

I need this done assignment done by 5/24 before midnight EST time.
University of Phoenix Online Accounting 423 Week 5 – Individual Assignments James L. Eads, CPA, MST, MSF Grading: This assignment is worth a total of 75 points and will be graded based 1/3 on effort and 2/3 on accuracy. The effort portion of your score will be impacted by items such as arithmetic errors, failure to follow proper form for statements and schedules as shown in the text, a clear lack of effort, the omission of computations to support your conclusions, or the omission of sections of the assignment, etc. Careless arithmetic errors, unbalanced journal entries, unbalanced schedules, or other careless mistakes will result in the loss of all credit for effort for that problem. I5-1: The Rapid Delivery Company provides a defined benefit pension plan for its employees. Data related to the plan follows. Balances as of December 31, 2011: Pension liability $32,500 Plan assets 1,285,000 Projected benefit obligation 1,315,000 Unrecognized prior service cost -0- Activity during 2012: Actual (expected) return on plan assets $122,500 Benefits paid to plan beneficiaries 94,000 Contributions (fundings) 129,000 Prior service cost amortization 40,000 Service cost 136,000 The Company’s actuary has determined that the appropriate settlement rate is 8%. On January 1, 2012, The Company adopted an amendment to the plan which resulted in the grant of prior service costs of $730,000. The present value of the prior service costs is $235,000. Instructions: Prepare a pension worksheet for 2012 showing the journal entries for pension expense and the year-end balances in the pension related accounts.
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RAPID DELIVERY COMPANY PENSION WORKSHEET 2012
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