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On January 1, 2020, Pharoah Company has the following defined benefit pension plan balances.

Projected benefit obligation		$4,534,000
Fair value of plan assets		4,270,000

The interest (settlement) rate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $502,000 are created. Other data related to the pension plan are as follows.

		2020			2021
Service cost		$149,000			$180,000
Prior service cost amortization		0			92,000
Contributions (funding) to the plan		244,000			284,000
Benefits paid		200,000			275,000
Actual return on plan assets		256,200			261,000
Expected rate of return on assets		6	%		8	%

On January 1, 2020, Pharoah Company has the following defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets $4,534,000 4,270,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $502,000 are created. Other data related to the pension plan are as follows. 2020 2021 Service cost $149,000 0 Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 244,000 200,000 256,200 6 % $180,000 92,000 284,000 275,000 261,000 8 % Prepare a pension worksheet for the pension plan for 2020 and 2021. (Enter all amounts as positive.) Annual Pension Expense Items Cash Balance, Jan 1, 2020 $ > $ > Service cost Interest cost > Actual return Contributions > Benefits Journal entry for 2020 $ Interest cost Amortization of PSC Benefits Journal entry for 2021 $ $ Accumulated OCI, Dec 31, 2020 Balance, Dec 31, 2021 Prepare a pension worksheet for the pension plan for 2020 and 2021. (Enter all amounts as positive.) PHAROAH COMPANY Pension Worksheet-2020 and 2021 General Journal Entries OCI-Prior OCI-Gain/ Service Cost Loss Pension Asset/ Liability $ > > > > > > > > > $ > Service cost Interest cost > Actual return Contributions > Benefits Journal entry for 2020 $ Interest cost Amortization of PSC Benefits Journal entry for 2021 $ $ Accumulated OCI, Dec 31, 2020 Balance, Dec 31, 2021 Prepare a pension worksheet for the pension plan for 2020 and 2021. (Enter all amounts as positive.) PHAROAH COMPANY Pension Worksheet-2020 and 2021 General Journal Entries OCI-Prior OCI-Gain/ Service Cost Loss Pension Asset/ Liability $ > > > > > > > > >