Ch$.19$ In$-$Class Practice Problem

Practice Problem $1$: Preparation of Pension Worksheet

$($Service Costs, Interest Costs, Actual$=$Expected Returns, and Contributions$)$

Jackson Company adopts acceptable accounting for its defined benefit pension plan on January $1,2026,$ with the following beginning balances: plan assets $$0$; projected benefit obligation $$0.$ Other data are as follows.

Required:

Prepare a pension worksheet that shows the journal entry for pension expense for $2026,2027,$ and $2028$ and the year$-$end balances in the related pension accounts. In addition, prepare the journal entry to record pension expense for $2026,2027,$ and $2028$ and the employer's contribution to the pension plan $($if any$).$

$\backslash$table$[[$Jackson Company$],[$Pension Worksheet$],[$For the Year Ended December $31,2026],[,|$ General Journal Entries,Memo Record$],[,$Annual,,$||$Pension$,|||$ Projected,$],[,$Pension,,Asset$/,$Benefit,Plan$],[$Ite

Please compute with work shown