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Reporting the impact of a Pension Fund Pharrell inic sponsored a defined pension plan for its employees. For the year ended December 31, 2020, Pharrell
Reporting the impact of a Pension Fund Pharrell inic sponsored a defined pension plan for its employees. For the year ended December 31, 2020, Pharrell recorded pension expense of $1,000 including service cost of 54.800 and a 5640 unexpected loss on plan assets. Pharrell calculated the December 31, 2020, balance in Accumulated 00-Gain/Loss account to be $1,280 (debit) and calculated a net pension asse/ability of $800 credin) Assuming no amortization of pension gairloss, what is the impact of this plan on the balance sheet b) income statement and statement of comprehensive income? Note:Use a negative sign to indicate accumulated less . Note: a vine int required in the statement for these transactions, select as the account names and leave the D, and C answers blank (tero) Balance Sheet December 31, 2020 sas Short 1 Note: Do notes negative with your answers Income met for the Ended December 31, 2020 Open Notes to indicate a loss menu Comore Is thered 2030 onem
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