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are as follows. plan. Expected years of futu 1. Kenosha's defined benefit pension plan was fully funded at 1/1/19, with a PBO and plan assets
are as follows. plan. Expected years of futu 1. Kenosha's defined benefit pension plan was fully funded at 1/1/19, with a PBO and plan assets of $5,000,000. The settlement rate for the PBO is 8%. During 2019 the following occurred: Current service cost Contributions Benefits paid Actual ROA Expected ROA rate $200,000 230,000 210,000 280,000 7% On 1/1/20 the plan was amended such that $500,000 of prior service costs were created. During 2020 the following occurred: Current service cost Amortization of PSC Contributions Benefits paid Actual ROA Expected ROA rate $ 205,000 95,000 230,000 250,000 350,000 6% Prepare pension worksheets for both 2019 and 2020 along with the appropriate journal entries. are as follows. plan. Expected years of futu 1. Kenosha's defined benefit pension plan was fully funded at 1/1/19, with a PBO and plan assets of $5,000,000. The settlement rate for the PBO is 8%. During 2019 the following occurred: Current service cost Contributions Benefits paid Actual ROA Expected ROA rate $200,000 230,000 210,000 280,000 7% On 1/1/20 the plan was amended such that $500,000 of prior service costs were created. During 2020 the following occurred: Current service cost Amortization of PSC Contributions Benefits paid Actual ROA Expected ROA rate $ 205,000 95,000 230,000 250,000 350,000 6% Prepare pension worksheets for both 2019 and 2020 along with the appropriate journal entries
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