Jackson Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2018, with the following beginning balances: plan assets $200,000 and defined benefit obligation $250,000. Other data relating to 3 years' operation of the plan are shown below.

Instructions

a. Prepare a pension worksheet presenting all 3 years' pension balances and activities.

b. Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year.

c. Indicate the pension-related amounts reported in the financial statements for 2020?