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Question 7 of 9 View Policies - / Current Attempt in Progress The following defined pension data of Larkspur Corp. apply to the year 2020.
Question 7 of 9 View Policies - / Current Attempt in Progress The following defined pension data of Larkspur Corp. apply to the year 2020. Projected benefit obligation, 1/1/20 (before amendment) $616.000 Plan assets, 1/1/20 601,600 Pension liability 14.400 On January 1, 2020, Larkspur Corp., through plan amendment, grants prior service benefits having a present value of 126,000 Settlement rate 9 % Service cost 61,500 Contributions (funding) 61,000 Actual (expected) return on plan assets 54,800 Benefits paid to retirees 42,700 Prior service cost amortization for 2020 15.600 For 2020. prepare a pension worksheet for Larkspur Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Annual Pension Expense Cash Balance, Dec 31, 2019 $ $ Prior service cost Dr. Cr. Balance, Jan. 1, 2020 > Service cost > Interest cost Actual return > Amortization of PSC > Contributions > Benefits $ $ Journal entry for 2020 Accumulated OCI. Dec 31, 2019 $ Balance. Dec. 31. 2020 veneral Journal Culles OCI-Prior Service Cost Pension Asset/ Liability $ > $ > $ $ - /1 TVeIO Recora Projected Benefit Obligation Plan Assets $ > $ $ $ GA
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