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At January 1, 2020, Martinez Company had plan assets of $290,700 and a projected benefit obligation of the same amount. At January 1, 2020, Martinez
At January 1, 2020, Martinez Company had plan assets of $290,700 and a projected benefit obligation of the same amount. At January 1, 2020, Martinez Company had plan assets of $290,700 and a projected benefit obligation of the same amount. During 2020, service cost was $26,900, the settlement rate was 10%, actual and expected return on plan assets were $25,100. 2020, service cost was $26,900, the settlement rate was 10%, actual and expected return on plan assets were $25,100, contributions were $20,100, and benefits paid were $17,500. contributions were $20,100, and benefits paid were $17,500. Prepare a pension worksheet for Martinez Company for 2020. Prepare a pension worksheet for Martinez Company for 2020. MA INEZ COMPANY General Journal Entries Memo Record Pension Expense Projected Benefit Obligation Pension Asset/Liability Items Cash Plan Assets $ $ $ $ 1/1/20 > Service cost > Interest cost > > Actual return > Contributions > $
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