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Attempt in Progress The following defined pension data of Pharoah Corp. apply to the year 2020. Projected benefit obligation, 1/1/20 (before amendment) $532,000 Plan assets,
Attempt in Progress The following defined pension data of Pharoah Corp. apply to the year 2020. Projected benefit obligation, 1/1/20 (before amendment) $532,000 Plan assets, 1/1/20 517,400 Pension liability 14,600 On January 1, 2020, Pharoah Corp., through plan amendment, grants prior service benefits having a present value of 113,000 Settlement rate 9 % Service cost 53,700 Contributions (funding) 60,500 Actual (expected) return on plan assets 49.400 Benefits paid to retirees 38,200 Prior service cost amortization for 2020 15.700 For 2020, prepare a pension worksheet for Pharoah Corp, that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) GE Annual Pension Expense Items Cash Interest cost > Actual return Amortization of PSC Contributions Benefits > $ > >
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