The following information is available for the pension plan of Sunland Company for the year 2020. Actual and expected return on plan assets   $ 14,700   Benefits paid to retirees   40,800   Contributions (funding)   81,100   Interest/discount rate   10 % Prior service cost amortization   7,600   Projected benefit obligation, January 1, 2020   458,000   Service cost   63,900

The following defined pension data of Waterway Corp. apply to the year 2020. Projected benefit obligation, 1/1/20 (before amendment)   $509,000   Plan assets, 1/1/20   496,000   Pension liability   13,000   On January 1, 2020, Waterway Corp., through plan amendment,   grants prior service benefits having a present value of   123,000   Settlement rate   9 % Service cost   58,300   Contributions (funding)   59,600   Actual (expected) return on plan assets   48,300   Benefits paid to retirees   43,500   Prior service cost amortization for 2020   16,400   For 2020, prepare a pension worksheet for Waterway Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) WATERWAY CORP.Pension Worksheet—2020       General Journal Entries   Memo Record Items   Annual PensionExpense   Cash   OCI–Prior

Herring Wholesale Company has a defined benefit pension plan. On January 1, 2024, the following pension related data were available: Net gain-AOCI Accumulated benefit obligation Projected benefit obligation Fair value of plan assets Average remaining service period of active employees (expected to remain constant for the next several years) 1. Amount amortized to 2024 pension expense 2. Pension expense 3. Net gain ($ in thousands) $ 349 3,070 3,100 2,600 The rate of return on plan assets during 2024 was 9%, although it was expected to be 10%. The actuary revised assumptions regarding the PBO at the end of the year, resulting in a $42,000 decrease in the estimate of that obligation. Required: 1. Calculate any amortization of the net gain that should be included as a component of net pension expense for 2024. 2. Assume the net pension expense for 2024, not including the amortization of the net gain component, is $344,000. What is pension expense for the year? 3. Determine the net…

The actuary for the pension plan of Sheridan Inc, calculated the following net gains and losses. Incurred during the Year 2020 2021 2022 2023 As of January 1, 2020 2021 Other information about the company's pension obligation and plan assets is as follows. 2022 2023 2020 2021 2022 2023 (Gain) or Loss $301,200 $ 477,600 Projected Benefit Obligation $ (211,500) (290,200) $ $ Year Minimum Amortization of (Gain) Loss Sheridan Inc. has a stable labor force of 400 employees who are expected to receive benefits under the plan. The total service-years for all participating employees is 4,800. The beginning balance of accumulated OCI (G/L) is zero on January 1, 2020. The market- related value and the fair value of plan assets are the same for the 4-year period. Use the average remaining service life per employee as the basis for amortization. $3,996,200 Compute the minimum amount of accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2020, 2021,…