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Preparing Pension Journal Entries and Pension Worksheet Information for the Jenkins Company defined benefit pension plan follows. Jenkins uses the straight-line method to amortize prior
Preparing Pension Journal Entries and Pension Worksheet Information for the Jenkins Company defined benefit pension plan follows. Jenkins uses the straight-line method to amortize prior service cost and corridor amortization for gains and losses. a. Prepare the December 31, 2019, presentation of funded status. Note: Use a negative sign for a net pension liability b. Prepare the entries to record 2020 pension expense, gain and loss deferral (if any), contributions, and benefits. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. c. Prepare the December 31,2020, presentation of funded status. Note: Use a negative sign for a net pension liability d. Determine whether amortization of net unrecognized gain or loss is required for 2021. Note: Round your answers to the nearest whole dollar
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