Service cost Projected benefit obligation (1/1) Plan assets (1/1) Company contribution (funded 12/31) Discount rate Expected long-term (and actual) rate of return on plan assets are no other components of Baron's pension expense. 2019 $150,000 112,500 112.500 155,500 8% 8% Required: . Compute the amount of Baron's pension expense for 2019 and 2020. 2. Prepare the joumal entries to record the pension expense for 2019 and 2020. 2020 $160,000 271,500 277,000 170,000 8%

Service cost Projected benefit obligation (1/1) Plan assets (1/1) Company contribution (funded 12/31) Discount rate Expected long-term (and actual) rate of return on plan assets are no other components of Baron's pension expense. 2019 $150,000 112,500 112.500 155,500 8% 8% Required: . Compute the amount of Baron's pension expense for 2019 and 2020. 2. Prepare the joumal entries to record the pension expense for 2019 and 2020. 2020 $160,000 271,500 277,000 170,000 8%

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 5E

See similar textbooks