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Please help with this question! Question 6 -/10 View Policies Current Attempt in Progress Cheyenne Corporation is a privately owned company that uses ASPE. On

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Question 6 -/10 View Policies Current Attempt in Progress Cheyenne Corporation is a privately owned company that uses ASPE. On January 1, 2020 Cheyenne's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,390.000 Pension Plan Assets 1,520.000 Cheyenne Corporation's actuary provided the following information on December 31, 2020: Current year service cost $77.000 Prior service cost, granted Jan 1, 2020 166,000 Employer contributions for the year 90.000 Benefits paid to retirees 25.000 Expected return on assets 5% Actual return on assets 6% Discount rate 5%% Prepare a pension worksheet for Cheyenne Corporation for 2020. General Journal Entries Memo Record Annual Pension Net Defined Liability Defined Benefit Expense Cash Asset Obligation Plan Assets Balance, January 1, 2020 130000 Cr. # 1390000 Cr. # 1520000 Dr. # Current Service Cost 77000 Dr. 77000 Cr. # Past Service Cost 166000 Dr. 166000 Cr. # Net Interest/Finance Cost 12150 Dr. # 12150 Cr. # Asset Remeasurement Gain/Loss Employer Contributions to Pension Fund 90000 Cr. # 90000 Or. # Benefits Paid to Retirees from Pension Fund 25000 Dr. # 25000 Cr. # Pension Expense Entry - 2020 # Cr. # Net Funding Entry 90000 Dr. Balance, December 31, 2020 Cr. # Cr. # Dr. # e Textbook and Media List of AccountsPrepare pension plan journal entries for Cheyenne Corporation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Pension Expense Net Defined Benefit Liability or Asset (To record pension expense) Net Defined Benefit Liability or Asset Cash [To record payment to the pension fund) e Textbook and Media List of Accounts What is the funded status for Cheyenne Corporation at December 31, 2020? Cheyenne's pension plan is |underfunded #) by $ on December 31, 2020. eTextbook and Media

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