Actuary and Trustee Reports Indicate the Following Changes in the PBO

question 86

Essay

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Sporting Industries during 2013: Required:
1) Determine Sporting's pension expense for 2013 and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets.
2) Prepare the appropriate journal entries to record any 2013 gains and losses.

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