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need help with worksheet The following facts apply to the pension plan of Headland Corporation for the year 2020. Plan assets, January 1, 2020 $990,000
need help with worksheet
The following facts apply to the pension plan of Headland Corporation for the year 2020. Plan assets, January 1, 2020 $990,000 Projected benefit obligation, January 1, 2020 990,000 Settlement rate 6 % Service cost 78,000 Contributions (funding) 10,000 Actual and expected return on plan assets 38,700 Benefits paid to retirees 42,600 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) HEADL Pension Wo General Journal Entries Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive) HEADLAN Pension Works General Journal Entries Annual Pension Expense Items Cash Balance, January 1, 2020 $ $ $ Service cost Dr. Cr. Interest cost Actual return Contributions Benefits TA Journal entry, December 31, 2020 Annual Pension Expense Balance, January 1, 2020 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31, 2020 $ $ > Balance, December 31, 2020 ta $ Liability Dr.
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