- Question 4 5 Marks Mclaughlin Corp A Publicly Accountable Entity Operates A Defined Benefit Pension Plan For Its Em 1 (51.79 KiB) Viewed 43 times
Question 4 (5 marks) McLaughlin Corp., a publicly accountable entity, operates a defined benefit pension plan for its employees. Information for the pension plan for the year ended December 31, 2021, is as follows: Defined benefit obligation, at December 31, 2020 Pension plan assets, at December 31, 2020 $16,500,000 CO $14,300,000 A Current service cost, at December 31, 2021 Benefits paid to retirees, at December 31, 2021 Contribution to pension plan, at December 31, 2021 Actual return on plan assets, 2021 $1,900,000 0 $ 650,000 am $ 1,200,000 $ 430,000 0 ra Yield on high corporate bonds, 2021 4% Defined benefit obligation - per actuary, at December 31, 2021 $18,300,000 Required: OS TE Prepare all journal entries for the pension plan transactions for the year ended December 31, 2021. (5 marks)