Items 1 and 2 are based on the following:
Elm City contributes to and administers a single-employer defined benefit pension plan on behalf of its covered employees. The plan is accounted for in a pension trust fund. For the year ended December 31, 2005, employer contributions to the pension trust fund amounted to $11,000.
What account should be credited in the pension trust fund to record the 2005 employer contribution of $11,000?
- Additions.
- Other Financing Sources Control.
- Due from Special Revenue Fund.
- Pension Benefit Obligation.
To record the 2005 pension contribution of $11,000, what debit is required in the governmental-type fund used in connection with employer pension contributions?
- Other Financing Uses Control.
- Expenditures Control.
- Expenses Control.
- Due to Pension Trust Fund.