Oriole Company provides the following information about its defined benefit pension plan for the year 2020. Service cost   $91,700   Contribution to the plan   104,300   Prior service cost amortization   10,800   Actual and expected return on plan assets   65,300   Benefits paid   39,700   Plan assets at January 1, 2020   633,400   Projected benefit obligation at January 1, 2020   711,600   Accumulated OCI (PSC) at January 1, 2020   148,000   Interest/discount (settlement) rate   10 % (a)     Prepare a pension worksheet inserting January 1, 2020, balances, showing December 31, 2020. (Enter all amounts as positive.) ORIOLE COMPANY Pension Worksheet—2020.     General Journal Entries   Memo Record Items   Annual Pension Expense   Cash   OCI Prior Service Cost   Pension Asset/ Liability   (b)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 4E
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Oriole Company provides the following information about its defined benefit pension plan for the year 2020.

Service cost   $91,700  
Contribution to the plan   104,300  
Prior service cost amortization   10,800  
Actual and expected return on plan assets   65,300  
Benefits paid   39,700  
Plan assets at January 1, 2020   633,400  
Projected benefit obligation at January 1, 2020   711,600  
Accumulated OCI (PSC) at January 1, 2020   148,000  
Interest/discount (settlement) rate   10 %

(a)

 
 
Prepare a pension worksheet inserting January 1, 2020, balances, showing December 31, 2020. (Enter all amounts as positive.)

ORIOLE COMPANY
Pension Worksheet—2020.
   
General Journal Entries
 
Memo Record
Items
 
Annual
Pension Expense
 
Cash
 
OCI
Prior Service Cost
 
Pension Asset/
Liability

 

(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.

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