Accounting 557

On January 1, 2012, Harrington Company has the following defined benefit adaptation curriculum balances. Projected benefits obligation$5,600,000 Fair value of computer programme assets6,400,000 The interest (settlement) step applicable to the invention is9%On January 1, 2013, the corporation amends its premium agreement so that serve up salutes of$620,000 are created. Other data related to the pension plan are as follows: 20122013 religious service equals$180,000 $195,000 foregoing service be amortization0 97,000 Contributions (funding) to the plan255,000 305,000 Benefits stipendiary225,000 300,000 real return on plan assets320,000 515,000 Expected footstep of return on assets5%8% Instructions: (a) mastermind a pension worksheet for the pension plan for 2012 and 2013. HARRINGTON COMPANY grant Worksheet2012 and 2013 frequent Journal EntriesMemo Record ItemsAnnual Pension Expense notes inOCI - Prior Service CostOCI - Gain/LossPe nsion plus/ LiabilityProjected Benefit ObligationPlan Assets Balance, Jan.

1, 2012800,000 (5,600,000)6,400,000 (a) Service cost180,000 (180,000) (b) Interest cost504,000 (504,000) (c) Actual return(320,000)320,000 (d) Contributions(255,000)255,000 (e) Benefits225,000 (225,000) Journal entry, 12/31/12364,000 (255,000)(109,000)(6,059,000)6,750,000 Accum OCI, 12/31/11 Balance, Dec. 31, 2012691,000 (6,059,000)6,750,000 (f) Additional PSC620,000 (620,000) January 1, 2013 (6,679,000)6,750,000 (g) Service cost195,000 (195,000) (h) Interest cost601,110 (601,110) (i) Actual return(515,000)515,000 (j) Unexpec ted dismission(25,000)25,000 (k) Amortiza! tion of PSC97,000 (97,000) (l) Contributions(305,000)305,000 (m) Benefits300,000...If you want to get a upright essay, enact it on our website: OrderCustomPaper.com

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