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Bonita Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related
Bonita Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related value) $270,600 Projected benefit obligation 336,200 Pension asset/liability 65,600 Cr. Prior service cost 90,600 OCI-Loss 39,600 As a result of the operation of the plan during 2021, the actuary provided the following additional data for 2021. Service cost $45,200 Actual return on plan assets 26,600 Amortization of prior service cost 11,900 Contributions 65,100 Benefits paid retirees 40,300 Settlement rate 7% Expected return on plan assets 8 % Average remaining service life of active employees 10 years Compute pension expense for Bonita Corp. for the year 2021 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.) Pension Worksheet-2021 General Journal Entries Memo Record Annual Pension OCI-Prior OCI-Gain/ Pension Asset/ Projected Benefit Expense Service Cost _Liability Obligation Assets Plan Loss Balance, Jan 1, 2021 $ Service cost Interest cost Actual return Unexpected gain Amortization of PSC Amortization of loss Contributions Benefits Journal entry for 2021 $ Accumulated OCI, Dec. 31, 2020 Balance. Dec. 31. 2021 Comprehenshelme Statement Bonita Corp Income Statement Partial Bonita Corp Partial Balance Sheet $XXX $ $ $XXX Bonita Corp Comprehensive Income Statement Bonita Corp Partial Balance Sheet $XOOX Previous Bonita Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (market-related value) $270,600 Projected benefit obligation 336,200 Pension asset/liability 65,600 Cr. Prior service cost 90,600 OCI-Loss 39,600 As a result of the operation of the plan during 2021, the actuary provided the following additional data for 2021. Service cost $45,200 Actual return on plan assets 26,600 Amortization of prior service cost 11,900 Contributions 65,100 Benefits paid retirees 40,300 Settlement rate 7% Expected return on plan assets 8 % Average remaining service life of active employees 10 years Compute pension expense for Bonita Corp. for the year 2021 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.) Pension Worksheet-2021 General Journal Entries Memo Record Annual Pension OCI-Prior OCI-Gain/ Pension Asset/ Projected Benefit Expense Service Cost _Liability Obligation Assets Plan Loss Balance, Jan 1, 2021 $ Service cost Interest cost Actual return Unexpected gain Amortization of PSC Amortization of loss Contributions Benefits Journal entry for 2021 $ Accumulated OCI, Dec. 31, 2020 Balance. Dec. 31. 2021 Comprehenshelme Statement Bonita Corp Income Statement Partial Bonita Corp Partial Balance Sheet $XXX $ $ $XXX Bonita Corp Comprehensive Income Statement Bonita Corp Partial Balance Sheet $XOOX Previous
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