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Pronghorn Corporation is a privately owned company that uses ASPE.On January 1, 2020 Pronghorn's financial records indicated the following information related to the company's defined
Pronghorn Corporation is a privately owned company that uses ASPE.On January 1, 2020 Pronghorn's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation Pension Plan Assets $1,350,000 1,490,000 Pronghorn Corporation's actuary provided the following information on December 31, 2020 Current year service cost $87,000 Prior service cost, granted Jan 1, 2020 186,000 Employer contributions for the year 90,000 Benefits paid to retirees I 31,000 Expected return on assets 5% Actual return on assets 6% Discount rate 5% (a) Prepare a pension worksheet for Pronghorn Corporation for 2020. Prepare a pension worksheet for Pronghorn Corporation for 2020. General Journal Entries Annual Pension Expense Cash Balance, January 1, 2020 >
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