TIM ASISTENSI AKUNTANSI INSTRUMEN KEUANGAN

2021
LATIHAN SOAL

Indorama Corp. sponsors a defined benefit pension plan for its employees. On January 1,
2020, the following balances relate to this plan

Plan assets $125.000

Defined benefit obligation $125.000

As result of the operation of the plan during 2020, the following additional data are provided
by the actuary

Annual service cost $30.000

Discount (interest) rate 15%

Funding contribution $28.000

Benefit paid to retirees during the year $16.000

Present value Defined Benefit Obligation $250.000

Fair value plant asset $230.000

Instruction :

a. Using the data above, compute pension expense for Indorama Corp. for the year 2020 by
preparing a pension worksheet
b. Prepare the journal entry for pension expense for 2020