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I just want the one in red resolved Jackson Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the
I just want the one in red resolved Jackson Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $200,000; projected benefit obligation $250,000. Other data relating to 3 years' operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/20) Amortization of prior service cost Change in actuarial assumptions establishes a December 31, 2021, projected benefit obligation of: 2019 $16,000 10 % 18,000 16,000 14,000 2020 $19,000 10 % 22,000 40,000 16,400 160,000 54,400 2021 $26,000 10 % 24,000 48,000 21,000 41,600 520,000 Indicate the pension-related amounts reported in the financial statements for 2021. Jackson Company Partial Income Statement For the Year Ended December 31, 2021 TOperating Expenses Pension Expense 89370 Other Income / Expenses > Pension Expense 89370
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