Question

Determine the missing amounts in the 2014 pension worksheet,indicating whether the amounts are debits or credits.

Pension Worksheet—Usher Inc.

 

 

General Journal Entries

 

 

Memo Record

 

 

Annual Pension

Expense

 

Cash

 

OCI—Prior

Service Cost

 

OCI—Gain/

Loss

 

Pension Asset/

Liability

 

 

Projected Benefit

Obligation

 

Plan

Assets

Balance, Jan. 1, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

$3,678

 

Dr.Cr.

 

 

 

$9,363

 

Dr.Cr.

 

 

$5,685

 

Dr.Cr.

 

Service cost

 

$

 

Dr.Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,672

 

Dr.Cr.

 

 

 

Interest cost

 

 

 

Dr.Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

936

 

Dr.Cr.

 

 

 

 

Actual return

 

 

 

Dr.Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

736

 

Dr.Cr.

 

Unexpected gain

 

502

 

Dr.Cr.

 

 

 

 

 

 

 

$

Dr.Cr.

 

 

 

 

 

 

 

 

 

 

Amortization of PSC

 

 

 

Dr.Cr.

 

 

 

 

$184

 

Dr.Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contributions

 

 

 

 

$2,675

 

Dr.Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,675

 

Dr.Cr.

 

Benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

669

 

Dr.Cr.

 

 

669

 

Dr.Cr.

 

Liability increase

 

 

 

 

 

 

 

 

 

 

 

Dr.Cr.

 

 

 

 

 

1,221

 

Dr.Cr.

 

 

 

 

Journal entry

 

$

Dr.Cr.

 

$

Dr.Cr.

 

 

Dr.Cr.

 

 

Dr.Cr.

 

 

Dr.Cr.

 

 

 

 

 

 

 

Accumulated OCI, Dec. 31, 2013

 

 

 

 

 

 

 

3,678

 

Dr.Cr.

 

 

0

 

 

 

 

 

 

 

 

 

 

 

Balance, Dec. 31, 2014

 

 

 

 

 

 

 

$3,494

 

Dr.Cr.

 

 

$719

 

Dr.Cr.

 

 

$4,096

 

Dr.Cr.

 

 

 

$12,523

 

Dr.Cr.

 

 

$8,427

 

Dr.Cr.

 

 

                                             

 

SHOW LIST OF ACCOUNTS

LINK TO TEXT

 

 

 

 

         

Exercise 20-18 The accounting staff of Usher Inc. has preparedthe following pension worksheet. Unfortunately, several entries inthe worksheet are not decipherable. The company has asked yourassistance in completing the worksheet and completing theaccounting tasks related to the pension plan for 2014. Determinethe missing amounts in the 2014 pension worksheet, indicatingwhether the amounts are debits or credits.

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