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INTERAMERICAN UNIVERSITY BAYAMON CAMPUS BUSINESS DEPARTMENT LEASES Marshal Co. leases equipment from Universal Leasing under...

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INTERAMERICAN UNIVERSITY BAYAMON CAMPUS BUSINESS DEPARTMENT LEASES Marshal Co. leases equipment from Universal Leasing under the following terms: REQUIRED: Prepare amortization table and record entries for both LESSOR/LESSE PENSIONS Lennox Co. adopted a retirement plan for all employees, under FASB rule. Lennox Co. contributed $500,000 dollars. Contracted Equitable Actuarial Services, The actuary provided the followinf information the PBO, will be $600,000 which produces a liability of $100,000. This requires a settlement rate of 10% and expect a 9% return on plan assets. At the end of the first year Equitable provided the folllowing information: Service Costs $60,000. Return on PA $50,000 Contributions $90,000 Benefits Paid $40,000

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