Pension data for Barry Financial Services Incorporated include the following:
Discount rate,
$ in thousands
Expected return on plan assets,
Actual return on plan assets,
Service cost,
January :
Projected benefit obligation
Accumulated benefit obligation
Plan assets fair value
Prior service cost AOCI amortization, $
Net gain AOCI amortization, $
There were no changes in actuarial assumptions.
December :
Cash contributions to pension fund, December
Benefit payments to retirees, December
Required:
Determine pension expense for
Prepare the journal entries to record a pension expense, b gains and losses if anyc funding, and d retiree benefits for
Complete this question by entering your answers in the tabs below.
Prepare the journal entries to record a pension expense, b gains and losses if anyc funding, and d retiree benefits for
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answers in
thousands rounded to decimal place ie should be entered as
