Information for the Jenkins Company defined benefit pension plan follows. Jenkins uses the straight-line method to amortize prior service cost and corridor amortization for gains and losses.

Required

a. Prepare the December 31, 2019, presentation of funded status.

b. Prepare the entries to record 2020 pension expense, gain and loss deferral (if any), contributions, and benefits.

c. Prepare the December 31, 2020, presentation of funded status.

d. Determine whether amortization of net unrecognized gain or loss is required for 2021.

e. Prepare a pension worksheet for 2020 .

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Account Balances Projected Benefit Obligation... Plan Assets. Accumulated OCI- Jan. 1, 2020 Activity $700,000 Cr. Service cost, 2020 60,000 500,000 Dr. Actuarial loss determined Dec. 31, 2020 40,000 Actual return on plan assets, 2020. 55,000 Pension Gain/Loss Accumulated OCI-PSC 160,000 Cr. 120,000 Dr. Funding, 2020... 88,000 Benefits paid, 2020. 0 Other Discount rate Expected rate of return on plan assets. Average remaining service period of active plan participants 8% 10% 10 years