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Butler Co. has the following data related to its pension plan for 2021. Use this information to answer the following questions, prepare the 2021 pension
Butler Co. has the following data related to its pension plan for 2021. Use this information to answer the following questions, prepare the 2021 pension worksheet, and the 2021 Penson Journal Entry: - Plan assets, January 1, 2021, are $400,000. - Projected benefit obligation, January 1, 2021, is $520,000. - Annual service cost is $58,000. - Settlement rate of 5 percent. - Actual retum on plan assets is $40,000. - Expected return on plan assets of $48,000. - Funding contributions are $32,000. - Benefits paid to retirees during the year are $36,000. - There were Plan adjustments on 1/1/2020 that resulted in $60,000 in prior service costs. - Wright has total service years of 200 related to the prior service costs. - In 2020 There will be 75 total service years related to the prior service costs. - In 2021 There will be 65 total service years related to the prior service costs. - In 2022 There will be 35 total service years related to the prior service costs. - In 2023 There will be 25 total service years related to the prior service costs. What is the Corridor amount for Butler in 2021
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