Question: Using the information in E20.2, prepare a pension worksheet inserting January 1, 2019, balances, showing December 31, 2019, balances, and the journal entry recording pension

Using the information in E20.2, prepare a pension worksheet inserting January 1, 2019, balances, showing December 31, 2019, balances, and the journal entry recording pension expense.

Service cost..............................................................................€ 90,000

Contribution to the plan.........................................................105,000

Benefits paid..............................................................................40,000

Plan assets at January 1, 2019..............................................640,000

Defined benefit obligation at January 1, 2019....................700,000

Discount (interest) rate................................................................10%

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