Intermediate Accounting II — Pensions Directions:

Intermediate Accounting II — Pensions 

Directions: 

Complete on a Pension Worksheet/ or excel spreadsheet

Also, write the journal entry

Beginning of the year Balance

Plan Assets 450,000 (DR)

PBO 600,000 (CR)

Pension Asset/ Liab 150,000 (CR)

PSC  75,000 (DR)

OCI Loss 55,000 (DR)

During the Year

SC 75,000

Actual Retirement 45,000

Amort PSC  20,000

Contributions 115,000

Benefits 70,000

Settlement Rate 7%

Exp ROI 8%

Directions: 

Complete on a Pension Worksheet/ or excel spreadsheet 

Also, write the journal entry

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