Sandhill Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan $91,600 104,400 Prior service cost amortization 10,800 Actual and expected return on plan assets 64,600 Benefits paid 40,300 Plan assets at January 1, 2025 650,000 Projected benefit obligation at January 1, 2025 692,000 Accumulated OCI (PSC) at January 1, 2025 150,000
Sandhill Company provides the following information about its defined benefit pension plan for the year 2025. Service cost Contribution to the plan $91,600 104,400 Prior service cost amortization 10,800 Actual and expected return on plan assets 64,600 Benefits paid 40,300 Plan assets at January 1, 2025 650,000 Projected benefit obligation at January 1, 2025 692,000 Accumulated OCI (PSC) at January 1, 2025 150,000
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 1E
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![Sandhill Company provides the following information about its defined benefit pension plan for the year 2025.
Service cost
Contribution to the plan
$91,600
104,400
Prior service cost amortization
10,800
Actual and expected return on plan assets
64,600
Benefits paid
40,300
Plan assets at January 1, 2025
650,000
Projected benefit obligation at January 1, 2025
692,000
Accumulated OCI (PSC) at January 1, 2025
150,000
Interest/discount (settlement) rate
11%
(a)
Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31, 2025. (Enter all amounts as positive.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdbd4491b-63a6-4ca8-a32b-64c6be45de74%2F955a5830-be7d-4717-ad51-f3a1d19f4f22%2Fbk7ze0d_processed.png&w=3840&q=75)
Transcribed Image Text:Sandhill Company provides the following information about its defined benefit pension plan for the year 2025.
Service cost
Contribution to the plan
$91,600
104,400
Prior service cost amortization
10,800
Actual and expected return on plan assets
64,600
Benefits paid
40,300
Plan assets at January 1, 2025
650,000
Projected benefit obligation at January 1, 2025
692,000
Accumulated OCI (PSC) at January 1, 2025
150,000
Interest/discount (settlement) rate
11%
(a)
Prepare a pension worksheet inserting January 1, 2025, balances, showing December 31, 2025. (Enter all amounts as positive.
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