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Problem 20-8 (P20-8) Comprehensive 2-Year Worksheet

Problem 20-8 (P20-8) Comprehensive 2-Year Worksheet
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Solution Guide / Answer Key:

ACCOUNTING

ACC/423 (ACC423)
INTERMEDIATE FINANCIAL ACCOUNTING III
University of Phoenix (UoP)

Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007).
Intermediate Accounting, (12th ed.) (13th Ed.)
Hoboken, NJ: John Wiley & Sons.

Week Five (Week 5) Chapter 20 and Chapter 22

Problem 20-8 (P20-8) (Comprehensive 2-Year Worksheet) Glesen Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 2008 and 2009.

AND SO ON

Instructions
(a) Prepare a pension worksheet presenting both years 2008 and 2009 and accompanying computations including the computation of the minimum liability (2008 and 2009) and amortization of the unrecognized loss (2009) using the corridor approach.
(b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year.
(c) At December 31, 2009, prepare a schedule reconciling the funded status of the pension plan with the pension amounts reported in the financial statements.

 

FILE: MS WORD

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