On January 1, 2020, Stine Co. had the following balances:
Projected benefit obligation $7,200,000
Fair value of plan assets 7,100,000
Other data related to the pension plan for 2020:
Service cost 315,000
Contributions to the plan 459,000
Benefits paid 450,000
Interest rate 6%
Actual return 426,000
Prepare a pension worksheet and all journal entries for 2020 OR
Prepare all journal entries and compute ending balances for PBO & PA.
Show all computations.
Answers: 1
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On January 1, 2020, Stine Co. had the following balances:
Projected benefit obligation $7,200,000<...
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