Marked out to Preparing Pension Journal Entries and Pension Worksheet taker Company has a noncontributory defined benefit pension plan. The company must record its pension expense for the year ended December 31, 2020 The following data are able Activity 2020 Service 160.000 interest costas 4000 Loxxon P90 due to actual changesdetermined Dec 31 2020 20.000 Pension benefit paid to retirees 200.000 Alunan plan assets 36,000 Employer contributions 120,000 Pansion bensaid 200.000 Account Balances Jan 1.2020 Accumulated 00--Prior Service Cost $72,000 DE Accumulated 00- Pension and 3.000 Or Projected Burnett Olipation 600,000 400.000 DI Other Average mining service period 10 years Bedrotum on plants 1041 Pension Worksheet Journal Entries Create a worksheet to surmanize the pension data at the end of 2020. Assume that Lakor uses the corridor approach in amortising any pension gainios Note: Round your answers to the nearest whole dollar. Repert Nein Financial Statements Reported on Balance Sheet Accumulated Plan Net Pension Prior Pension Assets BO Asset/Liability Service Cost Gain/Los 01 05 O Balance 1000 Os Service cout 0 Reported in Comprehensive income OCI Pension Prier Pension Experie Service Con Gainless Outflow 05 01 MacBook Pro A % 5 & 7 . 3 6 8 9 4 2 W E T Y 20 Q U 0 200.000 Pemaid Accountances Jan 1, 2020 Acumulator Service Cost 572,000 DA Accumulated on Gair Loss 8,000 OF Projected Benefit obligion 100.000 Pan Ascens 400,000 Dr. Other Average remaining service period 10 years Expected to planas 104 Pension Worksheet Journal Entries a. Create a worksheet to summarize the pension data at the end of 2020. Assume that Laker uses the corridor approach in amortizing any pension gain/loss. Note: Round your answers to the nearest whole dollar Reported Net in Financial Statements Reported on Balance Sheet Reported in comprehensive Income Accumulated OCI OSI Plan Net Pension Prior Pension Cash Pension Prior Pension Assets PBO Asset/Liability Service Cost Gain/Loss Outflow Expense Service Cost Gain/Loss Balance, January 1.2020 OS 0 $ OS 0 $ 0 Service cost 0 0 0 05 05 05 05 Interest cost 0 0 0 0 Expected return 0 0 0 0 Unexpected loss on plan assets 0 0 0 Actuarial loss on PBO 0 0 0 Prior service cost amortization 0 0 0 Contributions to fund 0 0 0 0 Benefit payments 0 0 0 0 0 Balance December 31, 2020 5 0$ OS 05 05 5 05 05 OOOO OOOOOOO OOOOOOOOO OOOOOOOOO OOOOOOOOO OOOO Check Previous Save Answers MacBook Pro 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 Date Dec 31, 2020 Account Name Dr. CE 0 D D 0 0 2 0 To record pension expense Dec 31, 2020 2 0 . 0 To record deferral of unexpectedross on plan assets Dec 31, 2020 DO OOOOOO To record deferral of actuarial loss on PRO Dec 31, 2020 0 e 0 To record dan funding Dec 31, 2020 OO 0 0 e Torecord benefit paid Check Previous Save Answers MacBook Pro - 80 DOO 868 Marked out to Preparing Pension Journal Entries and Pension Worksheet taker Company has a noncontributory defined benefit pension plan. The company must record its pension expense for the year ended December 31, 2020 The following data are able Activity 2020 Service 160.000 interest costas 4000 Loxxon P90 due to actual changesdetermined Dec 31 2020 20.000 Pension benefit paid to retirees 200.000 Alunan plan assets 36,000 Employer contributions 120,000 Pansion bensaid 200.000 Account Balances Jan 1.2020 Accumulated 00--Prior Service Cost $72,000 DE Accumulated 00- Pension and 3.000 Or Projected Burnett Olipation 600,000 400.000 DI Other Average mining service period 10 years Bedrotum on plants 1041 Pension Worksheet Journal Entries Create a worksheet to surmanize the pension data at the end of 2020. Assume that Lakor uses the corridor approach in amortising any pension gainios Note: Round your answers to the nearest whole dollar. Repert Nein Financial Statements Reported on Balance Sheet Accumulated Plan Net Pension Prior Pension Assets BO Asset/Liability Service Cost Gain/Los 01 05 O Balance 1000 Os Service cout 0 Reported in Comprehensive income OCI Pension Prier Pension Experie Service Con Gainless Outflow 05 01 MacBook Pro A % 5 & 7 . 3 6 8 9 4 2 W E T Y 20 Q U 0 200.000 Pemaid Accountances Jan 1, 2020 Acumulator Service Cost 572,000 DA Accumulated on Gair Loss 8,000 OF Projected Benefit obligion 100.000 Pan Ascens 400,000 Dr. Other Average remaining service period 10 years Expected to planas 104 Pension Worksheet Journal Entries a. Create a worksheet to summarize the pension data at the end of 2020. Assume that Laker uses the corridor approach in amortizing any pension gain/loss. Note: Round your answers to the nearest whole dollar Reported Net in Financial Statements Reported on Balance Sheet Reported in comprehensive Income Accumulated OCI OSI Plan Net Pension Prior Pension Cash Pension Prior Pension Assets PBO Asset/Liability Service Cost Gain/Loss Outflow Expense Service Cost Gain/Loss Balance, January 1.2020 OS 0 $ OS 0 $ 0 Service cost 0 0 0 05 05 05 05 Interest cost 0 0 0 0 Expected return 0 0 0 0 Unexpected loss on plan assets 0 0 0 Actuarial loss on PBO 0 0 0 Prior service cost amortization 0 0 0 Contributions to fund 0 0 0 0 Benefit payments 0 0 0 0 0 Balance December 31, 2020 5 0$ OS 05 05 5 05 05 OOOO OOOOOOO OOOOOOOOO OOOOOOOOO OOOOOOOOO OOOO Check Previous Save Answers MacBook Pro 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 Date Dec 31, 2020 Account Name Dr. CE 0 D D 0 0 2 0 To record pension expense Dec 31, 2020 2 0 . 0 To record deferral of unexpectedross on plan assets Dec 31, 2020 DO OOOOOO To record deferral of actuarial loss on PRO Dec 31, 2020 0 e 0 To record dan funding Dec 31, 2020 OO 0 0 e Torecord benefit paid Check Previous Save Answers MacBook Pro - 80 DOO 868