Sunland Co. provides the following information about its postretirement benefit plan for the year 2020.

Service cost		$49,500
Contribution to the plan		9,000
Actual and expected return on plan assets		10,500
Benefits paid		20,900
Plan assets at January 1, 2020		112,700
Accumulated postretirement benefit obligation at January 1, 2020		309,400
Discount rate		10	%

Prepare a worksheet inserting January 1, 2020, balances, and showing December 31, 2020, balances. (Enter all amounts as positive.)

Sunland Co. Pension Worksheet2020

General Journal Entries

Memo Record

Annual Postretirement Expense

Cash

Postretirement Asset/ Liability

APBO

Plan Assets

Balance, Jan. 1, 2020

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

Service cost

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Interest cost

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Actual return

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Contributions

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Benefits

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Journal entry for 2020

$

Dr.Cr.

$

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Balance, Dec. 31, 2020

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

SHOW LIST OF ACCOUNTS

Prepare the journal entry recording postretirement benefit expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

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