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The following facts apply to the pension plan of Wildhorse Inc. for the year 2020. Plan assets, January 1, 2020 Projected benefit obligation, January 1,

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The following facts apply to the pension plan of Wildhorse Inc. for the year 2020. Plan assets, January 1, 2020 Projected benefit obligation, January 1, 2020 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $447,800 447,800 8 % 42,100 25,500 51,200 30,300 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) WILDHORSE Pension Workshe General Journal Entries Annual Pension Expense Items Cash Balance, January 1, 2020 $ Service cost Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) WILDHORSE Pension Workshe General Journal Entries Annual Pension Expense Cash $ >> > Actual return Contributions Benefits > $

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