Current Attempt in Progress The following defined pension data of Wildhorse Corp.apply to the year 2020. Projected benefit obligation, 1/1/20 (before amendment) $ 562,000 Plan assets, 1/1/20 547,600 Pension liability 14,400 On January 1, 2020, Wildhorse Corp., through plan amendment, grants prior service benefits having a present value of 126,000 Settlement rate 10 % Service cost 57,800 Contributions (funding) 68,700 Actual (expected) return on plan assets 48,500 Benefits paid to retirees 40,200 Prior service cost amortization for 2020 18,400 For 2020, prepare a pension worksheet for Wildhorse Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Gen Annual Pension Expense Items Cash $ $ Balance, Dec. 31, 2019 PP Prior service cost Balance, Jan. 1, 2020 Service cost UUUUUUUU Interest cost Actual return Amortization of PSC Contributions For 2020, prepare a pension worksheet for Wildhorse Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Gen Annual Pension Expense Items Cash $ $ Balance, Dec. 31, 2019 Prior service cost Balance, Jan. 1, 2020 Service cost Interest cost Actual return Amortization of PSC Contributions Benefits $ $ Journal entry for 2020 Accumulated OCI, Dec. 31, 2019 $ Balance, Dec. 31, 2020 e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score. 15% score reduction after attempt 1 For 2020, prepare a pension worksheet for Wildhorse Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) WILDHORSE CORP. Pension Worksheet-2020 General Journal Entries OCI-Prior Service Cost Pension Asset/ Liability Cash $ $ > $ $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score. 15% score reduction after attempt 1 For 2020, prepare a pension worksheet for Wildhorse Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Memo Record Pension Asset/ Liability Projected Benefit Obligation Plan Assets $ $ > > > > $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score. 15% score reduction after attempt 1
