Question 3 At January 1, 2020, Pina Company had plan assets of $303,000 and a projected benefit obligation of the same amount During 2020, service cost was $27,100, the settlement rate was 10 , actual and expected return on plan assets were $25,700, contributions were $20,000, and benefits paid were $17,700 Prepare a pension worksheet for Pina Company for 2020 PINA COMPANY General Journal Entries Memo Record Items Pension Expense Cash Pension Asset Liability Projected Benefit Obligation Plan Assets 1 1 20 $enter a dollar amount select a debit or credit Dr Cr $enter a dollar amount select a debit or credit Dr Cr $enter a dollar amount select a debit or credit Dr Cr $enter a dollar amount select a debit or credit Dr Cr $enter a dollar amount select a debit or credit Dr Cr Service cost enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr Interest cost enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr Actual return enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr Contributions enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr Benefits enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr Journal entry, 12 31 20 $enter a total amount select a debit or credit Dr Cr $enter a total amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr enter a dollar amount select a debit or credit Dr Cr Balance, 12 31 20 $enter a total amount select a debit or credit Dr Cr $enter a total amount select a debit or credit Dr Cr $enter a total amount select a debit or credit Dr Cr

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Question 3 At January 1, 2020, Pina Company had plan assets of $303,000 and a projected benefit obligation of the same amount. During 2020, service

Question 3

At January 1, 2020, Pina Company had plan assets of $303,000 and a projected benefit obligation of the same amount. During 2020, service cost was $27,100, the settlement rate was 10%, actual and expected return on plan assets were $25,700, contributions were $20,000, and benefits paid were $17,700. Prepare a pension worksheet for Pina Company for 2020.

PINA COMPANY
	General Journal Entries						Memo Record
Items	Pension Expense		Cash		Pension Asset/Liability		Projected Benefit Obligation		Plan Assets
1/1/20	$enter a dollar amount	select a debit or credit Dr.Cr.	$enter a dollar amount	select a debit or credit Dr.Cr.	$enter a dollar amount	select a debit or credit Dr.Cr.	$enter a dollar amount	select a debit or credit Dr.Cr.	$enter a dollar amount	select a debit or credit Dr.Cr.
Service cost	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.
Interest cost	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.
Actual return	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.
Contributions	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.
Benefits	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.
Journal entry, 12/31/20	$enter a total amount	select a debit or credit Dr.Cr.	$enter a total amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.	enter a dollar amount	select a debit or credit Dr.Cr.
Balance, 12/31/20					$enter a total amount	select a debit or credit Dr.Cr.	$enter a total amount	select a debit or credit Dr.Cr.	$enter a total amount	select a debit or credit Dr.Cr.