Defined Pension Benefit Plans1) On 1/1/2012 Stuart Company has the following defined pension plan balances. Projected benefits Obligation $5600000 Fair Value of Plan Assets $6400000The interest (Settlement) rate applicable to the plan is 9%. On 1/1/2013 the company amends its pension agreement so that service costs of $620000 are created. Other data related to the pension plan are as follows: 2012 2013Service Costs $180000 $195000Prior Service Costs Amortization 0 $97000Contributions (funding) to the plan $255000 $305000Benefits Paid $225000 $300000Actual Return on Plan Assets $320000 $515000Expected Rate of Return on Assets 5% 8%Instructions:a) Prepare a pension worksheet for the pension plan for 2012 and 2013.Harrington Company Pension Worksheet 2012 and 2013 General Journal Entries Memo Record Items Annual Pension Cash OCI-Prior OCI-Pension Projected Benefit Plan Expense Service Cost Gain/Loss Asset/Liability Obligation AssetsBalance 1/1/2012a) Service Costb) Interest Costc) Actual Returnd) Contributionse) BenefitsJournal entry 12/31/12Accum. OCI 12/31/11Balance 12/31/2012f) Additional PSC 1/1/2013g) Service Costh) Interest Costi) Actual Returnj) Unexpected lossk) Amortization of PSCl) Contributionsm) BenefitsJournal Entry 12/31/13Accum. OCI 12/31/12Balance 12/31/2013b) For 2013 prepare the journal entry to record pension-related amounts2) Jones Co. has the following post-retirement benefit plan balances on 1/1/2012Accumulated Postretirement benefit obligation $2535000Fair Value of Plan Assets $2535000The Interest (settlement) rate applicable to the plan is 8%. On 1/1/2013 the company amends the plan so that prior service costs of $185000 were created. Other data related to the pension plan are as follows: 2012 2013Service Costs $80000 $87000Prior Service Costs Amortization $0 $13000Contributions (funding) to the plan $47000 $38000Benefits Paid $41000 $43000Actual Return on Plan Assets $200000 $155000Expected Rate of Return on Assets 9% 7%Instructions:Prepare a worksheet for the postretirement plan for 2012 & 2013 Jones Co. Pension Worksheet 2012 & 2013 General Journal Entries Memo RecordItems Annual DR/ Cash DR/ OCI- Prior DR/ OCI- DR/ Pension DR/ Accum DR/ Plan DR/ Expense CR CR Service Cost CR Gain/Loss CR Asset/ CR Projected CR Assets CR Liability Benefit ObligationBalance 1/1/2012Service CostInterest CostActual ReturnUnexpected LossContributionsBenefitsJournal Entry 12/31/12Accum OCI 12/31/11Balance 12/31/2012Additional PSC 1/1/2013Balance 1/1/2013Service CostInterest CostActual ReturnUnexpected lossAmortization of PSCContributionsBenefitsJournal Entry 12/31/13Accum OCI 12/31/12Balance 12/31/2013b) Prepare any journal entries related to the postretirement plan that would be needed at 12/31/2012c) Prepare any journal entries related to the postretirement
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BENCHMARK – EFFECTS OF CHILDHOOD TRAUMA WORKSHEET
Academic Level University Subject Healthcare Type of Paper Other (Not listed) Paper Format APA Assessment Traits Benchmark Requires Lopeswrite Assessment Description Complete the “Effects of Childhood Trauma Worksheet” document attached. While APA format is not Read more…