On December 31 2016 Robey Company accumulated the

following information #2594

On December 31, 2016, Robey Company accumulated the following information for 2016 in
regard to its defined benefit pension plan:Service cost ................ $ 105,000Interest cost on
projected benefit obligation .... 12,000Expected return on plan assets .......... 11,000Amortization
of prior service cost ........ 2,000On its December 31, 2015, balance sheet, Robey had reported
an accrued/prepaid pension cost liability of $14,000.Required:1. Compute the amount of
Robey’s pension expense for 2016.2. Prepare all the journal entries related to Robey’s
pension plan for 2016 if it funds the pension plan in the amount of(a) $108,000,(b) $107,000,(c)
$112,000.3. Next Level Assuming Robey’s beginning 2016 Accumulated Other Comprehensive
Income: Prior Service Cost balance was $60,000 what would be its ending balance?4. Next
Level How much would Robey need to fund its pension plan for 2016 in order to report an
accrued/ prepaid pension cost asset of $5,000 at the end of 2016?View Solution:
On December 31 2016 Robey Company accumulated the following information

ANSWER
http://paperinstant.com/downloads/on-december-31-2016-robey-company-accumulated-the-
following-information/

1/1
Powered by TCPDF (www.tcpdf.org)