The following defined pension data of Sunland Corp. apply to the year 2025. Projected benefit obligation, 1/1/25 (before amendment) Plan assets, 1/1/25 Pension liability, 1/1/25 On January 1, 2025, Sunland Corp., through plan amendment, grants prior service benefits having this present value Settlement rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2025 $568,000 553,400 14,600 130,000 10% 58,500 64,300 47,100 36,300 17,400 For 2025, prepare a pension worksheet for Sunland that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive. If no entries then the input box should be left blank.)

The following defined pension data of Sunland Corp. apply to the year 2025. Projected benefit obligation, 1/1/25 (before amendment) Plan assets, 1/1/25 Pension liability, 1/1/25 On January 1, 2025, Sunland Corp., through plan amendment, grants prior service benefits having this present value Settlement rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2025 $568,000 553,400 14,600 130,000 10% 58,500 64,300 47,100 36,300 17,400 For 2025, prepare a pension worksheet for Sunland that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive. If no entries then the input box should be left blank.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 4E

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