Postretirement Benefit Worksheet–Holder Inc.xls Home Insert Page Layout Formulas Data Review View P18 fx A В F G 1 2 General Journal Entries Memo Record 3 Other Comprehensive Postretirement Income-PSC Asset/Liability 4 Annual 5 Items Expense Cash АРВО Plan Assets 6 Balance, Jan. 1, 2017 290,000 410,000 120,000 Service cost (1) (2) (3) 7 56,000 8 Interest cost 36,900 9 Actual/Expected return 2,000 10 Contributions 66,000 (4) 11 Benefits 5,000 5,000 12 Amortization of PSC 3,000 (5) (8) 13 Journal entry for 2017 (6) (7) (9) 14 30,000 Dr. 27,000 Dr. 15 Accumulated OCI, Dec. 31, 2016 16 Balance, Dec. 31, 2017 314,900 Cr. 497,900 Cr. 183,000 Dr. 17

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A: Contribution pension plan is a retirement plan in which both the employer and the employee…

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A: All amount are in dollar ($).

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Q: Prepare the journal entries to record the pension expense and the company's funding of the pension…

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A: 1.

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A:

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A: SOLUTION   WORKING NOTE - 1-ANNUAL PENSION EXPENSE= 590+330+177+65-260 = 902 DR. 2- OCI LOSS= 431 DR…

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Q: Line 4 of the Form 940 is where items that are not included as FUTA wages are adjusted out. Which of…

A: Answer: option d

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A: A pension is a plan into which an amount of funding is deposited throughout an employee's job years…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.