Using the preceding data, compute pension expense for Sandhill Corp. for the year 2020 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.) SANDHILL CORP. Pension Worksheet2020 General Journal Entries Memo Record Items Annual Pension Expense Cash OCIPrior Service Cost OCI Gain/ Loss Penison Asset/ Liability Projected Benefit Obligation Plan Assets Balance, Jan. 1, 2020 $Entry field with correct answer Entry field with correct answer $Entry field with correct answer Entry field with correct answer $Entry field with correct answer Entry field with correct answer $Entry field with correct answer Entry field with correct answer $Entry field with correct answer 155,000 Entry field with correct answer Cr. $Entry field with correct answer 701,000 Entry field with correct answer Cr. $Entry field with correct answer 546,000 Entry field with correct answer Dr. Service cost Entry field with correct answer 103,000 Entry field with correct answer Dr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 103,000 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Interest cost Entry field with correct answer 63090 Entry field with correct answer Dr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 63090 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Actual return Entry field with correct answer 51,000 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 51,000 Entry field with correct answer Dr. Unexpected loss Entry field with correct answer 3600 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 3600 Entry field with correct answer Dr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Amortization of PSC Entry field with correct answer 22,000 Entry field with correct answer Dr. Entry field with correct answer Entry field with correct answer Entry field with correct answer 22,000 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Amortization of loss Entry field with correct answer 2790 Entry field with correct answer Dr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 2790 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Contributions Entry field with correct answer Entry field with correct answer Entry field with correct answer 138,000 Entry field with correct answer Cr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 138,000 Entry field with correct answer Dr. Benefits Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 77,000 Entry field with correct answer Dr. Entry field with correct answer 77,000 Entry field with correct answer Cr. Journal entry for 2020 $Entry field with correct answer 136280 Entry field with correct answer Dr. $Entry field with correct answer 138,000 Entry field with correct answer Cr. Entry field with correct answer 22,000 Entry field with correct answer Cr. Entry field with correct answer 810 Entry field with correct answer Dr. Entry field with incorrect answer 155,000 Entry field with incorrect answer Cr. Entry field with incorrect answer 89090 Entry field with incorrect answer now contains modified data Dr. Entry field with incorrect answer 112000 Entry field with incorrect answer now contains modified data Cr. Accumulated OCI, Dec. 31, 2019 Entry field with correct answer 78,000 Entry field with incorrect answer now contains modified data Dr. Entry field with correct answer 98,000 Entry field with correct answer Dr. Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Balance, Dec. 31, 2020 $Entry field with incorrect answer now contains modified data 56000 Entry field with incorrect answer now contains modified data Dr. $Entry field with correct answer 98810 Entry field with correct answer Dr. $Entry field with incorrect answer 155,000 Entry field with correct answer Cr. $Entry field with correct answer 790090 Entry field with correct answer Cr. $Entry field with correct answer 658000 Entry field with correct answer Dr. Use the market-related asset value to compute the expected return and for corridor amortization. Expected return $Entry field with correct answer 54600 Corridor amortization $Entry field with incorrect answer

Your answer is partially correct. Try again. Sandhill Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances related to this plan. Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost Net gain or loss (debit) $546,000 701,000 155,000 Cr. 78,000 98,000 As a result of the operation of the plan during 2020, the actuary provided the following additional data for 2020. $103,000 Service cost Settlement rate, 9%; expected return rate, 10% Actual return on plan assets Amortization of prior service cost Contributions Benefits paid retirees Average remaining service life of active employees 51,000 22,000 138,000 77,000 10 years Your answer is partially correct. Try again. Sandhill Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2020, the following balances related to this plan. Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost Net gain or loss (debit) $546,000 701,000 155,000 Cr. 78,000 98,000 As a result of the operation of the plan during 2020, the actuary provided the following additional data for 2020. $103,000 Service cost Settlement rate, 9%; expected return rate, 10% Actual return on plan assets Amortization of prior service cost Contributions Benefits paid retirees Average remaining service life of active employees 51,000 22,000 138,000 77,000 10 years