Blossom Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan.

Plan assets (fair value)		$670,000
Projected benefit obligation		720,000
Pension asset/liability		50,000	Cr.
Prior service cost		87,000
OCI - Loss		77,000

As a result of the operation of the plan during 2021, the actuary provided the following additional data at December 31, 2021.

Service cost for 2021		$82,000
Actual return on plan assets in 2021		54,840
Amortization of prior service cost		24,600
Contributions in 2021		127,000
Benefits paid retirees in 2021		92,000
Settlement rate		7	%
Expected return rate		8	%
Average remaining service life of active employees 10 years

(a)

Compute pension expense for Blossom Corp. for the year 2021 by preparing a pension worksheet.

Blossom Corp. Pension Worksheet2018

General Journal Entries

Memo Record

Annual Pension Expense

Cash

OCIPrior Service Cost

OCI Gain/ Loss

Penison Asset/ Liability

Projected Benefit Obligation

Plan Assets

Balance, Jan. 1, 2021

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Service cost

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Interest cost

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Actual return

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Unexpected gain

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Amortization of PSC

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Contributions

Benefits

Journal entry for 2021

Accumulated OCI, Dec. 31, 2020

Balance, Dec. 31, 2021