Compute post-retirement pension expense; journal entry to record
Not what you're looking for?
The following information is related to the Hedge Co. post-retirement ("pension") benefits plan for 2011:
Service Cost $168,000
Discount Rate 10%
EPBO, January 1, 2011 820,000
APBO, January 1, 2011 640,000
Actual return on plan assets in 2011 22,400
Expected return on plan assets in 2011 29,000
Contributions (funding) 224,000
Instructions:
Instructions:
(a) Compute the amount of post-retirement expense for 2011. (Show computations.)
(b) Prepare the journal entry to record post-retirement expense and Hedge's contributions for 2011.
Purchase this Solution
Solution Summary
The expert computes post-retirement pension expenses for journal entries to record.
Solution Preview
ANSWERS
Instruction A
Service cost 168,000
+ interest ...
Purchase this Solution
Free BrainMass Quizzes
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Motivation
This tests some key elements of major motivation theories.
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.