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Student Name:
Acct 311 Intermediate Accounting II
Week 6 Homework
The following information is available for the pension plan of
Jones Company for the year
2014.
Actual and expected return on plan assets
$ 15,000
Benefits paid to retirees
40,000
Contributions (funding)
90,000
Interest/discount rate
10%
Prior service cost amortization
8,000
Projected benefit obligation, January 1, 2014
500,000
Service cost
60,000
Instructions
(a)
Complete the pension worksheet below for the year 2014.
Construct a new pension worksheet to submit in Excel or Word
format, using the sample worksheet below.
(b)
Prepare the journal entry to record pension expense and the
employer's contribution to
the pension plan in 2014.
(a)
(b) Prepare the journal required journal entry.

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  • 1. Student Name: Acct 311 Intermediate Accounting II Week 6 Homework The following information is available for the pension plan of Jones Company for the year 2014. Actual and expected return on plan assets $ 15,000 Benefits paid to retirees 40,000 Contributions (funding) 90,000 Interest/discount rate 10% Prior service cost amortization 8,000 Projected benefit obligation, January 1, 2014 500,000 Service cost 60,000 Instructions (a) Complete the pension worksheet below for the year 2014. Construct a new pension worksheet to submit in Excel or Word format, using the sample worksheet below. (b) Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2014. (a)
  • 2. (b) Prepare the journal required journal entry.