Howard Corp. sponsors a definedbenefit pension plan for its employees. On January the following balances related to this plan.
Plan assets fair value $
Projected benefit obligation PBO
Net Pension assetliability Cr
AOCI Prior service cost
AOCI Net Loss
As a result of the operation of the plan during the actuary provided the following additional data at December
Service cost for $
Actual return on plan assets in
Amortization of prior service cost in
Contributions in
Benefits paid to retirees in
Discount rate
Expected return rate
Average remaining service life of active employees years
a Compute pension expense for Howard Corp. for the year by preparing a pension worksheet in excel
b Prepare all the necessary journal entryies for recording pension expense, gainslosses contributions, and benefits paid during
