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ABC decides to start a defined benefit plan for it's employees. The beginnig of year plan...

ABC decides to start a defined benefit plan for it's employees. The beginnig of year plan assets and projected benefit obligationare zero. An actuary determines the annual service cost is $9,000. The settlement rate is 9%. There is no return on plan assets. Funding contributions are paid in cash of $8,000. No benefits are paid.

Prepare journal entries

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ekkarill92 answered 1 year ago
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