(Pension Worksheet) Webb Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2010, the following balances relate to this plan. Plan assets $480,000 Projected benefit...

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(Pension Worksheet) Webb Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2010, the following balances relate to this plan.
Plan assets $480,000
Projected benefit obligation 600,000
Pension asset/liability 120,000
Accumulated OCI (PSC) 100,000
As a result of the operation of the plan during 2010, the following additional data are provided by the actuary.
(a) Using the data above, compute pension expense for Webb Corp. for the year 2010 by preparing a pension worksheet.
(b) Prepare the journal entry for pension expense for 2010.

Answered Same Day Dec 22, 2021

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David answered on Dec 22 2021

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(Pension Worksheet) Webb Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2010, the following balances relate to this plan. Plan assets $480,000 Projected benefit...

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