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please make it step by step 1)Marks (20) Dec 31,2020 Jan 1, 2020 Defined benefit obligation ....... (a) $1,200,000 Fair value of plan assets (b)
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1)Marks (20) Dec 31,2020 Jan 1, 2020 Defined benefit obligation ....... (a) $1,200,000 Fair value of plan assets (b) 1,170,000 Current service cost $ 95,000 Contributions to the plan 104,000 Benefits paid 100,000 Actual return on plan assets ............ 92,000 Interest (discount) rate 8% Pension expense (c) Instructions a) Calculate the missing values. d) Prepare the necessary entries for 2020
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