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    General Journal Entries Item Annual Pensions Expenes Cash

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    Sami
    The document contains journal entries and account balances for a defined benefit pension plan for the year 2011. It shows debits and credits for service cost, interest cost, actual return on plan assets, contributions, and benefits. It also includes a memo with beginning and ending balances for plan assets, defined benefit obligation, and the net deficit/surplus. The net deficit increased by $19,500 from the beginning to the end of the year.

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    General Journal Entries Item Annual Pensions Expenes Cash

    Uploaded by

    Sami
    9 views4 pages
    The document contains journal entries and account balances for a defined benefit pension plan for the year 2011. It shows debits and credits for service cost, interest cost, actual return on plan assets, contributions, and benefits. It also includes a memo with beginning and ending balances for plan assets, defined benefit obligation, and the net deficit/surplus. The net deficit increased by $19,500 from the beginning to the end of the year.

    Original Description:

    pentions

    Original Title

    pentions

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    The document contains journal entries and account balances for a defined benefit pension plan for the year 2011. It shows debits and credits for service cost, interest cost, actual return on plan assets, contributions, and benefits. It also includes a memo with beginning and ending balances for plan assets, defined benefit obligation, and the net deficit/surplus. The net deficit increased by $19,500 from the beginning to the end of the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    9 views4 pages

    General Journal Entries Item Annual Pensions Expenes Cash

    Uploaded by

    Sami
    The document contains journal entries and account balances for a defined benefit pension plan for the year 2011. It shows debits and credits for service cost, interest cost, actual return on plan assets, contributions, and benefits. It also includes a memo with beginning and ending balances for plan assets, defined benefit obligation, and the net deficit/surplus. The net deficit increased by $19,500 from the beginning to the end of the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    item

    Balance, Jan. 1, 2011


    a) Service cost
    b) Interest cost (10%)
    (c) Actual return
    (d) Contributions
    (e) Benefits
    Journal entry for 2011

    a) Service cost
    b) Interest cost (10%)
    (c) Actual return
    (d) Contributions
    (e) Benefits
    Amortization of PSC

    general journal entries


    annual pensions expenes cash
    9000 Dr.
    10000 Dr.
    10000 Cr.
    8000 Cr.
    9000 Dr.

    8000 Cr.

    9500 dr.
    19360 dr.
    11100 cr.
    20000 cr.
    27200 dr.

    ournal entries
    pention asstes/liability

    Memo Record
    Defined Benefit Obligation Plan Assets
    100000 Cr.
    100000 Dr.
    9000 Cr.
    10000 Cr.
    10000 Dr.
    8000 Dr.
    7000 Dr.
    7000 Cr.

    1000 Cr.
    112000 Cr.
    81600 cr.
    9500 cr.
    19360 cr.

    8000 dr.

    111000 Dr.

    11100 dr.
    20000 dr.
    8000 cr.

    Unrecognized Past Service Items Cost

    81600 dr.

    27200 cr.

    plan assets
    +
    +
    =

    beginning amount
    return on plan assets
    contribution paid in
    pension paid out
    ending balance

    +
    +
    =

    beginning amount
    serivce cost
    interest cost
    pension paid out
    ending balance

    750000
    45000
    140000
    -90000
    845000
    paln obliagation
    1300000
    120000
    84500
    -90000
    1414500

    net defict / surplus


    beginning amount

    550000

    ending balance

    569500

    increase / decrease in period

    19500

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