Information for the Jenkins Company defined benefit pension plan follows. Jenkins uses the straight-line method to amortize prior service cost and corridor amortization for gains and losses. \begin{tabular}{|l|r|} \hline \multicolumn{1}{|c|}{ Account Balances } & Jan. 1, 2020 \\ \hline Projected Benefit Obligation & $420,000Cr. \\ \hline Plan Assets & 300,000Dr \\ \hline Accumulated OCl-Pension Gain/Loss & 96,000Cr \\ \hline Accumulated OCl-Prior Service Cost & 72,000Dr. \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Activity } \\ \hline Service cost, 2020 & $36,000 \\ \hline Actuarial loss determined Dec. 31,2020 & 24,000 \\ \hline Actual return on plan assets, 2020 & 33,000 \\ \hline Funding. 2020 & 52,800 \\ \hline Benefits paid, 2020 & 0 \\ \hline \multicolumn{1}{|c|}{ Other } & \\ \hline & \\ \hline Discount rate & \\ \hline Expected rate of return on plan assets \\ \hline Average remaining service period of active plan participants & 10 years \\ \hline \end{tabular} a. Prepare the December 31,2019 , presentation of funded status. Note: Use a negative sign for a net pension liability b. Prepare the entries to record 2020 pension expense, gain and loss deferral (if any), contributions, and benefits. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order Note: Round your answers to the nearest whole dollar. c. Prepare the December 31, 2020, presentation of funded status. Note: Use a negative sign for a net pension liability d. Determine whether amortization of net unrecognized gain or loss is required for 2021. Note: Round your answers to the nearest whole dollar. Information for the Jenkins Company defined benefit pension plan follows. Jenkins uses the straight-line method to amortize prior service cost and corridor amortization for gains and losses. \begin{tabular}{|l|r|} \hline \multicolumn{1}{|c|}{ Account Balances } & Jan. 1, 2020 \\ \hline Projected Benefit Obligation & $420,000Cr. \\ \hline Plan Assets & 300,000Dr \\ \hline Accumulated OCl-Pension Gain/Loss & 96,000Cr \\ \hline Accumulated OCl-Prior Service Cost & 72,000Dr. \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Activity } \\ \hline Service cost, 2020 & $36,000 \\ \hline Actuarial loss determined Dec. 31,2020 & 24,000 \\ \hline Actual return on plan assets, 2020 & 33,000 \\ \hline Funding. 2020 & 52,800 \\ \hline Benefits paid, 2020 & 0 \\ \hline \multicolumn{1}{|c|}{ Other } & \\ \hline & \\ \hline Discount rate & \\ \hline Expected rate of return on plan assets \\ \hline Average remaining service period of active plan participants & 10 years \\ \hline \end{tabular} a. Prepare the December 31,2019 , presentation of funded status. Note: Use a negative sign for a net pension liability b. Prepare the entries to record 2020 pension expense, gain and loss deferral (if any), contributions, and benefits. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order Note: Round your answers to the nearest whole dollar. c. Prepare the December 31, 2020, presentation of funded status. Note: Use a negative sign for a net pension liability d. Determine whether amortization of net unrecognized gain or loss is required for 2021. Note: Round your answers to the nearest whole dollar
