View Policies Current Attempt in Progress Sandhill Corporation provides the following information about its defined benefit pension plan for the year 2020: Current service cost Contribution to the plan Past service cost, effective December 31, 2020 Actual return on plan assets Benefits paid Net defined benefit liability at January 1, 2020 Plan assets at January 1, 2020 Defined benefit obligation at January 1, 2020 Interest/discount rate on the DBO and plan assets $225,200 263,150 25,650 159,750 104,300 424,500 1,597,500 2,022,000 10% Sandhill follows IRFS. Prenare a nension work sheet Prepare a pension work sheet. Sandhill Corporation Pension Work Sheet-2020 General Journal Entries Annual Pension Expense Cash $ $ Balance, 01/01/2020 Service cost CH Past service cost Net interest/finance cost Contributions Benefits paid Expense entry Contribution entry $ Balance, 12/31/2020 Prepare a pension work sheet. Net Def. Benefit Liab/Asset Memo Record Defined Benefit Obligation Plan Assets $ $ V $ $ Prepare all journal entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit December 31, 2020 (To record pension expense) December 31, 2020 (To record contributions paid) e Textbook and Media What is the amount of the plan's surplus/deficit at December 31, 2020? Plan's e Textbook and Media View Policies Current Attempt in Progress Sandhill Corporation provides the following information about its defined benefit pension plan for the year 2020: Current service cost Contribution to the plan Past service cost, effective December 31, 2020 Actual return on plan assets Benefits paid Net defined benefit liability at January 1, 2020 Plan assets at January 1, 2020 Defined benefit obligation at January 1, 2020 Interest/discount rate on the DBO and plan assets $225,200 263,150 25,650 159,750 104,300 424,500 1,597,500 2,022,000 10% Sandhill follows IRFS. Prenare a nension work sheet Prepare a pension work sheet. Sandhill Corporation Pension Work Sheet-2020 General Journal Entries Annual Pension Expense Cash $ $ Balance, 01/01/2020 Service cost CH Past service cost Net interest/finance cost Contributions Benefits paid Expense entry Contribution entry $ Balance, 12/31/2020 Prepare a pension work sheet. Net Def. Benefit Liab/Asset Memo Record Defined Benefit Obligation Plan Assets $ $ V $ $ Prepare all journal entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit December 31, 2020 (To record pension expense) December 31, 2020 (To record contributions paid) e Textbook and Media What is the amount of the plan's surplus/deficit at December 31, 2020? Plan's e Textbook and Media
