Andros Company has a noncontributory defined benefit pension plan. The data for the two years are as follows.

Required

a. Prepare worksheets to summarize the pension data at the end of 2020 and 2021. Assume that Andros Company uses the corridor approach in amortizing any pension gain/loss.

b. Provide journal entries for each year based upon the worksheet amounts.

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Balance, Jan. 1 2020 2021 Projected Benefit Obligation... $1,700 Cr. $2,215 Cr. Plan Assets.... 1,000 Dr. 1,210 Dr. Accumulated OCI-Prior Service Cost. 0 Dr. 216 Dr. Accumulated OCI-Pension Gain/Loss. 150 Dr. 180 Dr. Activity 2020 2021 Service cost $180 $210 Prior service cost (plan amended, Jan. 1, 2020) 240 Increase in PBO due to actuarial change (Dec. 31). 20 5 Pension benefits paid.. 80 125 Actual return on plan assets. 90 110 Contributions (funding).. 200 440 Other Expected return on plan assets Discount rate Average remaining service period 2020 2021 10% 10% 8% 9% 10 years 9 years