Question
Determine the missing amounts in the 2020 pension worksheet, indicating whether the amounts are debits or credits. (Enter all amounts as positive.) Pension Worksheet Sunland
Determine the missing amounts in the 2020 pension worksheet, indicating whether the amounts are debits or credits. (Enter all amounts as positive.)
| Pension WorksheetSunland Inc. | ||||||||||||||||||||||
| General Journal Entries | Memo Record | |||||||||||||||||||||
| Annual Pension Expense | Cash | OCIPrior Service Cost | OCIGain/ Loss | Pension Asset/ Liability | Projected Benefit Obligation | Plan Assets | ||||||||||||||||
| Balance, Jan. 1, 2020 | $1,408 | Cr. | $3,584 | Dr.Cr. | $2,176 | Dr.Cr. | ||||||||||||||||
| Service cost | $ | Dr.Cr. | 640 | Dr.Cr. | ||||||||||||||||||
| Interest cost | Dr.Cr. | 358 | Dr.Cr. | |||||||||||||||||||
| Actual return | Dr.Cr. | 282 | Dr.Cr. | |||||||||||||||||||
| Unexpected gain | 192 | Dr.Cr. | $ | Dr.Cr. | ||||||||||||||||||
| Amortization of PSC | Dr.Cr. | $70 | Dr.Cr. | |||||||||||||||||||
| Contributions | $1,024 | Dr.Cr. | 1,024 | Dr.Cr. | ||||||||||||||||||
| Benefits | 256 | Dr.Cr. | 256 | Dr.Cr. | ||||||||||||||||||
| Liability increase | Dr.Cr. | 467 | Dr.Cr. | |||||||||||||||||||
| Journal entry | $ | Dr.Cr. | $ | Dr.Cr. | Dr.Cr. | Dr.Cr. | Dr.Cr. | |||||||||||||||
| Accumulated OCI, Dec. 31, 2019 | 1,408 | Dr.Cr. | 0 | |||||||||||||||||||
| Balance, Dec. 31, 2020 | ||||||||||||||||||||||
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Cost Accounting Principles
Authors: Kinney Raiborn
14th Edition
9788131521069
