Omaha Company has the following information related to its defined benefit pension plan balances for years 20X0 and 20X1. OMAHA COMPANY INFORMATION RELATING TO DEFINED BENEFIT PENSION PLAN FOR YEARS 20X0 AND 20X1 20X0 20X1 Projected Benefit Obligation $ 4,500,000 ? Fair Value of Plan Assets. 4,200,000 ? Interest (Settlement) Rate For Plan 10% 10% Prior Service Costs Due to Amendment of Plan Agreement on January 1, 20X1 500,000 Service Cost 150,000 180,000 Amortization of Prior Service Cost 90,000 5 Employer Contribution to Pension Plan 240,000 285,000. 5 Benefits Paid to Retirees 200,000 280,000 Actual Return on Plan Assets 252,000 260,000 7 8 9 Expected Rate of Return on Plan Assets 6% 8% 31 32 REQUIRED: (1) Prepare a pension worksheet for the pension plan for 20X0 and 20X1. 33 (2) Prepare the general journal entries required for the pension plan in the employer's accounting records for 20X0 and 20X1. 34