Business, 17.04.2020 02:57 skylarjohnson2683

Veldre Company provides the following information about its defined benefit pension plan for the year 2014.

Service cost $90,000
Contribution to the plan 105,000
Prior service cost amortization 10,000
Actual and expected return on plan assets 64,000
Benefits paid 40,000
Plan assets at January 1, 2014 640,000
Projected benefit obligation at January 1, 2014 700,000
Accumulated OCI (PSC) at January 1, 2014 150,000
Interest/discount (settlement) rate 10 %

Prepare a pension worksheet inserting January 1, 2014, balances, showing December 31, 2014.

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