Carla Company sponsors a defined benefit pension plan. The corporations actuary provides the following information about the plan.

		January 1, 2020		December 31, 2020
Vested benefit obligation		$1,480		$1,870
Accumulated benefit obligation		1,870		2,670
Projected benefit obligation		2,500		3,260
Plan assets (fair value)		1,690		2,630
Settlement rate and expected rate of return				10%
Pension asset/liability		810		?
Service cost for the year 2020				400
Contributions (funding in 2020)				690
Benefits paid in 2020				200

Prepare a 2020 pension worksheet. (Enter all amounts as positive.)

CARLA COMPANY Pension Worksheet2020

General Journal Entries

Memo Record Entries

Items

Annual Pension Expense

Cash

OCI Gain/ Loss

Pension Asset/ Liability

Projected Benefit Obligation

Plan Assets

Balance, Jan. 1, 2020

$

$

$

$

$

$

Service cost

Interest cost

Actual return

Unexpected gain

Contributions

Benefits

Liability increase

Journal entry for 2020		$

$

Accumulated OCI, Dec. 31, 2019

Balance, Dec. 31, 2020								$

$

$

$

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List of Accounts

Prepare the journal entries at December 31, 2020, to record pension expense and related pension transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020

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