(Pension Worksheet—Missing Amounts) The accounting staff of Henin Inc. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2011.

Instructions

(a) Determine the missing amounts in the 2011 pension worksheet, indicating whether the amounts are debits or credits.

(b) Prepare the journal entry to record 2011 pension expense for Henin Inc.

(c) The accounting staff has heard of a pension accounting procedure called “corridor amortization.”
Is Henin required to record any amounts for corridor amortization in (1) 2011? In (2) 2012? Explain.

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B Pension Worksheet-Henin Inc. D General Journal Entries Annual Pension 2 Items Expense Cash 3 Balance, Jan. 1, 2011 456700 0 4 Service cost (1) 5 Interest cost Actual return (3) 206 (2) Unexpected gain 8 Amortization of PSC 150 (5) 9 Contributions 10 Benefits 11 Liability increase 12 Journal entry 13 14 15 16 3456 Accumulated OCI, Dec. 31, 2010 Balance, Dec. 31, 2011 Sheet1 Sheet2 Sheet3/ OCI-Prior Service Cost E H Memo Record OCI- Pension Gain/Losse Asset/Liability 1,100 Cr. Projected Benefit Obligation Plan Assets 2,800 1,700 400 280 320 (4) 55 800 800 200 200 (6) 365 (7) (8) (9) (10) (11) 1,100 0 1,045 215 1,025 3,645 2,620