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Exercise 20-03 (Part Level Submission) Marigold Company provides the following information about its defined benefit pension plan for the year 2020. Service cost Contribution to
Exercise 20-03 (Part Level Submission) Marigold Company provides the following information about its defined benefit pension plan for the year 2020. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2020 Projected benefit obligation at January 1, 2020 Accumulated OCI (PSC) at January 1, 2020 Interest/discount (settlement) rate $91,700 104,300 10,800 65,300 39,700 633,400 711,600 148,000 10 % (a) Prepare a pension worksheet inserting January 1, 2020, balances, showing December 31, 2020. (Enter all amounts as positive.) MARIGOLD COMPANY Pension Worksheet-2020. General Journal Entries OCI Prior Service Cost Memo Record Annual Pension Expense Pension Asset/ Liability Projected Benefit Obligation Plan Assets Items Cash Balance, January 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 $ $ Click if you would like to Show Work for this question: Open Show Work
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