Hanson Ltd. sponsors a defined benefit pension plan for its employees. On January 1, 2019, the following balances related to this plan.

Plan assets (fair value).......................................£520,000

Defined benefit obligation..................................700,000

Pension asset/liability....................................180,000 Cr.

Accumulated net loss............................................91,000

As a result of the operation of the plan during 2019, the actuary provided the following additional data on December 31, 2019.

Service cost for 2019..............................................£108,000

Discount (interest) rate.....................................................9%

Actual return on plan assets in 2019.......................48,000

Contributions in 2019..............................................133,000

Benefits paid retirees in 2019..................................85,000

Instructions

Using the preceding data, compute pension expense for Hanson Ltd. for the year 2019 by preparing a pension worksheet that shows the journal entry for pension expense.