E20.18 (LO 1, 2, 3, 4) (Pension Worksheet-Missing Amounts) The accounting staff of Usher Inc. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2020. Pension Worksheet-Usher Inc. Home Insert Page Layout Formulas Data Review View P18 Н General Journal Entries Memo Record Pension Asset/ Annual Projected Benefit 4 Pension OC-Prior OC- Items Expense Cash Service Cost Gain/Loss Liability Obligation Plan Assets 6 Balance, Jan. 1, 2020 7 Service cost 8 Interest cost 1,100 Cr. 2,800 1,700 500 (1) (2) 280 9 Actual return 10 Unexpected gain (3) 220 150 (4) 11 Amortization of PSC (5) 55 12 Contributions 800 800 13 Benefits 200 200 14 Liability increase 15 Journal entry (6) (10) 365 (7) (8) (9) (11) 16 17 Accumulated OCI, Dec. 31, 2019 1,100 1,045 18 Balance, Dec. 31, 2020 215 1,225 3,745 2,520 19

E20.18 (LO 1, 2, 3, 4) (Pension Worksheet-Missing Amounts) The accounting staff of Usher Inc. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2020. Pension Worksheet-Usher Inc. Home Insert Page Layout Formulas Data Review View P18 Н General Journal Entries Memo Record Pension Asset/ Annual Projected Benefit 4 Pension OC-Prior OC- Items Expense Cash Service Cost Gain/Loss Liability Obligation Plan Assets 6 Balance, Jan. 1, 2020 7 Service cost 8 Interest cost 1,100 Cr. 2,800 1,700 500 (1) (2) 280 9 Actual return 10 Unexpected gain (3) 220 150 (4) 11 Amortization of PSC (5) 55 12 Contributions 800 800 13 Benefits 200 200 14 Liability increase 15 Journal entry (6) (10) 365 (7) (8) (9) (11) 16 17 Accumulated OCI, Dec. 31, 2019 1,100 1,045 18 Balance, Dec. 31, 2020 215 1,225 3,745 2,520 19

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 1C

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