Business
Business, 09.08.2021 23:40, hdwoody2002

The accountant for Wildhorse Corporation has developed the following information for the company's defined-benefit pension plan for 2021: Service cost$555,000
Actual return on plan assets272,000
Annual contribution to the plan942,000
Amortization of prior service cost127,200
Benefits paid to retirees71,000
Settlement rate10%
Expected rate of return on plan assets8%
The accumulated benefit obligation at December 31, 2013, amounted to $3,250,000.
Instructions
(a) Using the above information for Marlin Corporation, complete the pension work sheet for 2021. Indicate (credit) entries by parentheses. Calculated amounts should be supported.
(b) Prepare the journal entry to reflect the accounting for the company's pension plan for the year ended 12.31.2021.

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The accountant for Wildhorse Corporation has developed the following information for the company's d...

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