eBook B Print Question 6 Incomplete answer Marked out of 2.08 Flag question Recording and Reporting Pension Accounts; Preparing Worksheet 2020 records of Lexxus Company provided the following data related to its noncontributory defined benefit pension plan. Account Balances Jan. 1, 2020 Projected Benefit Obligation $4,800 Plan Assets 3,840 Accumulated OCIPrior Service Cost 0 Accumulated OCIPension Gain/Loss 0 2020 $1,920 Activity Service cost Interest cost Pension benefits paid Actual return on plan assets Contributions 384 640 269 1,638 Other Expected rate of return on plan assets 7% Discount rate 8% Pension Expense and Reconciliations Entries and Financial Statement Presentation Pension Worksheet a. Compute 2020 net periodic pension expense reported by Lexxus. Net periodic pension expense, 2020 $ b. Prepare a 2020 reconciliation for (1) plan assets and (2) projected benefit obligation. Pension Expense and Reconciliations Entries and Financial Statement Presentation Pension Worksheet a. Compute 2020 net periodic pension expense reported by Lexxus. Net periodic pension expense, 2020 $ b. Prepare a 2020 reconciliation for (1) plan assets and (2) projected benefit obligation. $ Plan Assets Reconciliation, December 31, 2020 Plan assets, January 1, 2020 Actual return Employer contributions Benefit payments Plan assets, December 31, 2020 0 0 $ 0 0 0 0 PBO Reconciliation, December 31, 2020 PBO, January 1, 2020 Service cost Interest cost Prior service cost adjustment Actuarial gain/loss on PBO Benefit payments PBO, December 31, 2020 0 0 0 0 Please answer all parts of the question. Check Pension Expense and Reconciliations Entries and Financial Statement Presentation Pension Worksheet f. Create a worksheet to summarize the pension data at the end of 2020. Note: Use a negative sign for credits to accounts. Pension Worksheet Reported Net in Financial Statements Balance Sheet Income Statement Plan Net Pension Cash Pension Assets PBO Asset/Liability Outflow Expense Balance, January 1, 2020 $ 0 $ 0 $ 0 Service cost 0 0 0 $ 0 $ 0 Interest cost 0 0 0 0 0 Expected return 0 0 0 0 0 Contributions to find 0 0 0 0 0 Benefit payments 0 0 0 0 0 Balance, December 31, 2020 $ 0 $ 0 $ 0 $ 0 Please answer all parts of the question, Check eBook B Print Question 6 Incomplete answer Marked out of 2.08 Flag question Recording and Reporting Pension Accounts; Preparing Worksheet 2020 records of Lexxus Company provided the following data related to its noncontributory defined benefit pension plan. Account Balances Jan. 1, 2020 Projected Benefit Obligation $4,800 Plan Assets 3,840 Accumulated OCIPrior Service Cost 0 Accumulated OCIPension Gain/Loss 0 2020 $1,920 Activity Service cost Interest cost Pension benefits paid Actual return on plan assets Contributions 384 640 269 1,638 Other Expected rate of return on plan assets 7% Discount rate 8% Pension Expense and Reconciliations Entries and Financial Statement Presentation Pension Worksheet a. Compute 2020 net periodic pension expense reported by Lexxus. Net periodic pension expense, 2020 $ b. Prepare a 2020 reconciliation for (1) plan assets and (2) projected benefit obligation. Pension Expense and Reconciliations Entries and Financial Statement Presentation Pension Worksheet a. Compute 2020 net periodic pension expense reported by Lexxus. Net periodic pension expense, 2020 $ b. Prepare a 2020 reconciliation for (1) plan assets and (2) projected benefit obligation. $ Plan Assets Reconciliation, December 31, 2020 Plan assets, January 1, 2020 Actual return Employer contributions Benefit payments Plan assets, December 31, 2020 0 0 $ 0 0 0 0 PBO Reconciliation, December 31, 2020 PBO, January 1, 2020 Service cost Interest cost Prior service cost adjustment Actuarial gain/loss on PBO Benefit payments PBO, December 31, 2020 0 0 0 0 Please answer all parts of the question. Check Pension Expense and Reconciliations Entries and Financial Statement Presentation Pension Worksheet f. Create a worksheet to summarize the pension data at the end of 2020. Note: Use a negative sign for credits to accounts. Pension Worksheet Reported Net in Financial Statements Balance Sheet Income Statement Plan Net Pension Cash Pension Assets PBO Asset/Liability Outflow Expense Balance, January 1, 2020 $ 0 $ 0 $ 0 Service cost 0 0 0 $ 0 $ 0 Interest cost 0 0 0 0 0 Expected return 0 0 0 0 0 Contributions to find 0 0 0 0 0 Benefit payments 0 0 0 0 0 Balance, December 31, 2020 $ 0 $ 0 $ 0 $ 0 Please answer all parts of the question, Check