Ms. Brown apparently wasn't up on pension accounting because the plan file contains only the following note: Remember to tell boss that I need help with accounting for these things! -C.B. It takes a...

Ms. Brown apparently wasn't up on pension accounting because the plan file contains only the following note: Remember to tell boss that I need help with accounting for these things! -C.B.

It takes a couple of days to assemble the information you need, but you finally get it all together and summarize it as follows:

Pension Plan

Tasks:

• Prepare a pension worksheet using Microsoft Excel for both years 2014 and 2015 and the necessary computations and amortization of the loss (2015), using the corridor approach.


• Prepare in the same worksheet the journal entries to reflect all pension plan transactions and events at December 31 of each year.


• For 2015, indicate (in the same worksheet) the pension amounts to be reported in the financial statements.


• In a 2 page Microsoft Word document, explain alternative measures for valuing the pension obligation. What would you advise for Panache?