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Current Attempt in Progress Crane Corporation provides the following information about its defined benefit pension plan for the year 2023: Currentservice cost $225,300 Contribution to the plan 263,300 Past service cost, effective December 31, 2023 25,700 Actual return on plan assets 159,800 Benefits paid 101,100 Net defined benefit liability at January 1, 2023 422.000 Plan assets at January 1, 2023 1,598,000 Defined benefit obligation at January 1,2023 2,023,000 Interest/discount rate on the DBO and plan assets 10% Crane follows IFRS. Prepare a pension work sheet. Balance, 01/01/2023 $ Current service cost Past service cost Net interest/finance cost Contributions Annual Deficit Benefit Expense Benefits paid Experse entry Contribution entry $ > $ < General Journal Entries > > > Cash $ C Per < > > > < > > >

Current Attempt in Progress Crane Corporation provides the following information about its defined benefit pension plan for the year 2023: Currentservice cost $225,300 Contribution to the plan 263,300 Past service cost, effective December 31, 2023 25,700 Actual return on plan assets 159,800 Benefits paid 101,100 Net defined benefit liability at January 1, 2023 422.000 Plan assets at January 1, 2023 1,598,000 Defined benefit obligation at January 1,2023 2,023,000 Interest/discount rate on the DBO and plan assets 10% Crane follows IFRS. Prepare a pension work sheet. Balance, 01/01/2023 $ Current service cost Past service cost Net interest/finance cost Contributions Annual Deficit Benefit Expense Benefits paid Experse entry Contribution entry $ > $ < General Journal Entries > > > Cash $ C Per < > > > < > > >

Intermediate Accounting: Reporting And Analysis
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 9E
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Current Attempt in Progress Crane Corporation provides the following information about its defined benefit pension plan for the year 2023: Currentservice cost $225,300 Contribution to the plan 263,300 Past service cost, effective December 31, 2023 25,700 Actual return on plan assets 159,800 Benefits paid 101,100 Net defined benefit liability at January 1, 2023 422.000 Plan assets at January 1, 2023 1,598,000 Defined benefit obligation at January 1,2023 2,023,000 Interest/discount rate on the DBO and plan assets 10% Crane follows IFRS. Prepare a pension work sheet. Balance, 01/01/2023 $ Current service cost Past service cost Net interest/finance cost Contributions Annual Deficit Benefit Expense Benefits paid Experse entry Contribution entry $ > $ < General Journal Entries > > > Cash $ C Per < > > > < > > >
Transcribed Image Text:Current Attempt in Progress Crane Corporation provides the following information about its defined benefit pension plan for the year 2023: Currentservice cost $225,300 Contribution to the plan 263,300 Past service cost, effective December 31, 2023 25,700 Actual return on plan assets 159,800 Benefits paid 101,100 Net defined benefit liability at January 1, 2023 422.000 Plan assets at January 1, 2023 1,598,000 Defined benefit obligation at January 1,2023 2,023,000 Interest/discount rate on the DBO and plan assets 10% Crane follows IFRS. Prepare a pension work sheet. Balance, 01/01/2023 $ Current service cost Past service cost Net interest/finance cost Contributions Annual Deficit Benefit Expense Benefits paid Experse entry Contribution entry $ > $ < General Journal Entries > > > Cash $ C Per < > > > < > > >
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