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The accounting staff of Usher Inc. has prepared the following pension worksheet (amounts in $). Unfortunately, several

Question:

The accounting staff of Usher Inc. has prepared the following pension worksheet (amounts in $). Unfortunately, several entries in the worksheet are not decipherable. The company has asked for your assistance in completing the worksheet and the accounting tasks related to the pension plan for 2019.
Pension Worksheet-Usher Inc. Home Insert Page Layout Formulas Data Review View PI8 A в General Journal Entries Memo Rec

Instructions
a. Determine the missing amounts in the 2019 pension worksheet, indicating whether the amounts are debits or credits.
b. Prepare the journal entry to record 2019 pension expense for Usher Inc.

Transcribed Image Text:

Pension Worksheet-Usher Inc. Home Insert Page Layout Formulas Data Review View PI8 A в General Journal Entries Memo Record Annual Pension Defined Pension OCI- Benefit Liability Obligation Plan Assets 2,800 Asset/ Cash Items Expense Gain/Loss 6 Balance, Jan. 1, 2019 7 Service cost 8 Interest expense 9 Interest revenue 1,100 Cr. 1,700 (1) 500 (2) 280 (3) 170 10 Contributions 800 800 11 Benefits 12 Asset gain 13 Liability loss 200 200 (4) 50 (5) (8) 365 14 Journal entry (6) (7) (9) 15 Accumulated OCI, Dec. 31, 2018 16 Balance, Dec. 31, 2019 17 315 1,225 3,745 2,520 18

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a Below is the completed worksheet indicating debit and credit entr...View the full answer


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Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal. I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
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