5/20/2020 Jim again. In 20x5 the benet formula was changed so that al the end of each year during retirement Jim will receive 4% of his nal salary for each year otservice. l. The PBO at 12/31/x4 using the old formula was The PBO at lZ/31/x4 using the new formula is 2. The additional PSC is Make Ihejmlmal entry to record the additional PSC OTHER COMPREHENSIVE INCOME PSC 3. The unamortized PSC now totals? PENSION ASSET/LIABILITY 5. The interest component for 20x5 is 6. The retum component for 20x5 is 4. The service cost component for 20x5 is $ 34,102 Beginning PSC, from initiating the plan l/l/x3 24,425 Amortization (2 years) 20x3 and 20x4 Unamortized. initial PSC @ 12/3l/x4 Increase due to plan amendment Unamortized PSC. l/l /x5 7. Amortization ofPSC for 20x5 is 9 Pension Expense for 20x5 is 9. Make the journal entry to record pension expense for 20x5. For simplicity, assume the amount funded each year is $12,000. PENSION EXPENSE PENSION ASSET/LIABILITY CASH 12.000 OTHER COMPREHENSIVE INCOME - PSC Please show how you get your answers. Unsupported answers will be marked wrong. 10. The PBO at 12/31/x5 is $ 11. The fund balance at 12/31/x5 is $ 12. The funded status at 12/31/x5 is 58 i3. The Accumulated OCI- PSC balance on the books is $ (Indicate where it is and whether the balance is a debit or credit) Show the T account 14. The Pension asset/liability balance on the books is $ (Indicate where it is and whether the balance is a debit or credit) Show the T account 4, What amount (5) will appear on the balance sheet? Assets Deferred Tax Asset Liabilities Pension Liability Owners Equity Accumulated Other Comprehensive Income