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Pina Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $200,700; projected benefit
Pina Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $200,700; projected benefit obligation $253,000. Other data relating to 3 years' operation of the plan are as follows. 2019 2020 2021 Annual service cost $16,000 $19,100 $25.900 Settlement rate and expected rate of return 10 % 10 % 10 % Actual return on plan assets 18,300 22.120 23.500 Annual funding (contributions) 16,000 39.700 48,700 Benefits paid 13,800 16,600 20,700 Prior service cost (plan amended, 1/1/20) 160.500 Amortization of prior service cost 55.000 41,600 Change in actuarial assumptions establishes a December 31, 2021, projected benefit obligation of: 519,300 Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Dec. 31. 2020 Dec. 31, 2021
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