Exercise 20-10 (Part Level Sub

Exercise 20-10 (Part Level Submission)

Oriole Corp. sponsors a defined benefit pension plan for itsemployees. On January 1, 2020, the following balances relate tothis plan.

Plan assets $469,100
Projected benefit obligation 575,200
Pension asset/liability 106,100
Accumulated OCI (PSC) 97,900 Dr.

As a result of the operation of the plan during 2020, the followingadditional data are provided by the actuary.

Service cost $90,500
Settlement rate, 8%
Actual return on plan assets 56,400
Amortization of prior service cost 18,800
Expected return on plan assets 53,400
Unexpected loss from change in projected benefitobligation,   due to change in actuarial predictions 75,600
Contributions 98,500
Benefits paid retirees 89,100


Using the data above, compute pension expense for Oriole Corp.for the year 2020 by preparing a pension worksheet.(Enter all amounts as positive.)


Pension Worksheet2020
Items Annual PensionExpense Cash OCI-Prior ServiceCost OCI-Gain/(Loss) PensionAsset/liability Projected benefitobligation PlanAsset
Balance, Jan1,2020 $    (106,100.00) $       (575,200.00) $     469,100.00
ServiceCost $     90,500.00 $         (90,500.00)
InterestCost $     46,016.00 $         (46,016.00)
Actualreturn $   (56,400.00) $       56,400.00
Unexpectedgain $       3,000.00 $            3,000.00 $                      –  
Amortisation ofPSC $     18,800.00 $   (18,800.00)
Liabilityincreases $       (75,600.00) $         (75,600.00)
Contributions $   (98,500.00) $       98,500.00
Benefits $            89,100.00 $     (89,100.00)
Journal entry for2020 $   101,916.00 $   (98,500.00) $   (18,800.00) $       (72,600.00) $      (57,216.00) $       (123,016.00) $       65,800.00
Accumulated OCI dec 31,2019 $     97,900.00 $                         –  
Balance, December 31,2020 $     79,100.00 $       (72,600.00) $    (163,316.00) $       (698,216.00) $     534,900.00
Net Pension Expense for2020 $   101,916.00
Journal entry31-12-2020
Account title &explaination Debit Credit
Pension Expense $   101,916.00
OCI(Gain/loss) $     72,600.00
OCI(PSC) $     18,800.00
Cash $     98,500.00
Net PensionAsset/liability $     57,216.00
(Being pension expense andremeasurement loss recorded)
· Please do upvote if you found the answeruseful.
· Feel free to reach in the comment section in case of anyclarification or queries.

"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!"
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with brilliantassignmenthelp.com
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes