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Contribution to plan Chapter 20 10-Point Quiz -- Due: Friday, April 29th The following information for 2020 is provided to you from the World

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Contribution to plan Chapter 20 10-Point Quiz -- Due: Friday, April 29th The following information for 2020 is provided to you from the World Water Ski Entertainment Group, LLC and their pension administration firm: Service Cost . . . Prior Service Cost Amortization. $16,950 42,635 2,000 Actual and Expected Return on Assets 1,745 Benefits Paid. 16,200 Plan Assets, January 1, 20120. 36,925 Projected Benefit Obligation, January 1, 2020, 77,910 Interest/Discount (settlement) rate. 48 Accumulated OIC (PSC), January 1, 2020 22,000 Required Complete the pension worksheet below for 2020, and prepare the necessary journal entry at December 31, 2020. General Journal Entries on Company's Books Memo Record Only Annual OIC Pension Prior Pension Asset Projected Benefit Plan Expense Cash SC Liability Obligation Assets Bal. 1/1/20 Service Cost Interest Cost Actual Return PSC Amortize Contributions Benefits Paid Subtotal "J/E" Bal. 12/31/20 2020 Journal Entry Debit Credit

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