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The following information is available for the pension plan of Riverbed Company for the year 2017. Actual and expected return on plan assets $ 15,800

Price:
$8.99


Product Description

The following information is available for the pension plan of Riverbed Company for the year 2017.

Actual and expected return on plan assets

 

$ 15,800

 

Benefits paid to retirees

 

39,500

 

Contributions (funding)

 

88,700

 

Interest/discount rate

 

11

%

Prior service cost amortization

 

7,600

 

Projected benefit obligation, January 1, 2017

 

548,000

 

Service cost

 

60,000

 

 

 

 

 

 

 

 

 

 

Compute pension expense for the year 2017.

Pension expense for 2017

 

$

 

 

 

SHOW LIST OF ACCOUNTS

 

 

 

 

 

 

 

 

Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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