The following facts apply to the pension plan of Bramble Inc. for the year 2020. Plan assets, January 1, 2020 Projected benefit obligation, January 1, 2020 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $511,800 511,800 8 % 36,500 23,500 50,300 33,400 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pensio accounts. (Enter all amounts as positive.) General Journal Entri

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization shou…