- /20 Tii Question 23 of 23 The following facts apply to the pension plan of Bridgeport Inc. for the year 2020. Plan assets, January 1, 2020 Projected benefit obligation, January 1, 2020 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $528,000 528.000 8 % 43.400 26.600 51,600 35,600 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year end balances in the related pension accounts. (Enter all amounts as positive) BRIDGEPOI Pension Works! General Journal Entries Annual Pension Expense Items Cash Balance, January 1.2020 $ S $ Service cost v Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Type here to search Actual and expected return on plan assets Benefits paid to retirees 51.600 35.600 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter ali amounts as positive.) EPORT INC orksheet-2020 Memo Record Pension Asset/ Liability Projected Benefit Obligation Plan Assets > $ Y $ S ) > S Save for Attempts: 0 of 1 used Summit Answer Type here to search