The following defined pension data of Skysong Corp. apply to the year 2020.

Projected benefit obligation, 1/1/20 (before amendment) $509,000

Plan assets, 1/1/20 496,000

Pension liability 13,000

On January 1, 2020, Skysong Corp., through plan amendment,

grants prior service benefits having a present value of 123,000

Settlement rate 9 %

Service cost 58,300

Contributions (funding) 59,600

Actual (expected) return on plan assets 48,300

Benefits paid to retirees 43,500

Prior service cost amortization for 2020 16,400

For 2020, a pension worksheet for Skysong Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.)

SKYSONG CORP.

Pension Worksheet2020

General Journal Entries

Memo Record

Items

Annual Pension

Expense

Cash

OCI-Prior

Service Cost

Pension

Asset/

Liability

Projected Benefit

Obligation

Plan

Assets

Balance, Dec. 31, 2019

$

$

$

$

$

$

Prior service cost

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

$

$

$

$