penaion planplease help me with those 1. (11) Gregory, Inc....
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penaion plan
please help me with those
1. (11) Gregory, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined benefit pension plan for the year ended December 31, 2019: January 1, 2019 Dec 31, 2019 Projected benefit obligation $2,500,000 $3,700,000 Market-related value of plan assets 2,400,000 Accumulated OCI-(Prior Service Cost) 300,000 420,000 3,000,000 The service cost component for 2019 is $140.000 and the amortization of prior service COST IS $120,000. The company's actual funding of the plan in 2019 amounted to 5510,000. The expected return on plan assets and the settlement rate were both 8%. Instructions Determine the pension expense to be reported in 2019 and show the components 2. (12) Windom Co. as lessee records a capital lease of machinery on January 1, 2019. The eight annual lease payments of $200.000 are made at the end of each year. The present value of the lease payments at 10% is $1,150,000. Windom uses the effective- interest method of amortization and straight-line depreciation (no residual value). Instructions (Round to the nearest dollar.) Prepare all of Windom 's journal entries for 2019
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