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The accountant for Cullumber Corporation has developed the following information for the company's defined-benefit pension plan for 2021: Service cost $ 570,000 Actual return on
The accountant for Cullumber Corporation has developed the following information for the company's defined-benefit pension plan for 2021: Service cost $ 570,000 Actual return on plan assets 278,000 Annual contribution to the plan 948,000 Amortization of prior service cost 127,800 Benefits paid to retirees 74,000 Settlement rate 10% Expected rate of return on plan assets 8% The accumulated benefit obligation at December 31, 2021, amounted to $3,390,000. Using the above information for Cullumber Corporation, complete the pension work sheet for 2021. (Do not leave any answer field blank. Enter O for amounts.) Annual Pension Expense Cash Balance, Dec. 31, 2020 > Service cost V [ [ Actual return v v Unexpected gain/loss v [ [ Accumulated OCI, 12/31/20 Balance, Dec. 31, 2021 Cullumber Corporation Pension Work Sheet-2021 General Journal Entries OCI-Prior Service Cost OCI - Gain/ Loss 639,000 > >
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