Question
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Determine the missing amounts in the 2014 pension worksheet,indicating whether the amounts are debits or credits.
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Pension Worksheet—Usher Inc.
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General Journal Entries
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Memo Record
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Annual Pension
Expense
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Cash
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OCI—Prior
Service Cost
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OCI—Gain/
Loss
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Pension Asset/
Liability
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Projected Benefit
Obligation
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Plan
Assets
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Balance, Jan. 1, 2014
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$3,678
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Dr.Cr.
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$9,363
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Dr.Cr.
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$5,685
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Dr.Cr.
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Service cost
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$
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Dr.Cr.
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1,672
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Dr.Cr.
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Interest cost
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Dr.Cr.
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936
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Dr.Cr.
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Actual return
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Dr.Cr.
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736
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Dr.Cr.
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Unexpected gain
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502
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Dr.Cr.
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$
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Dr.Cr.
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Amortization of PSC
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Dr.Cr.
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$184
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Dr.Cr.
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Contributions
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$2,675
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Dr.Cr.
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2,675
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Dr.Cr.
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Benefits
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669
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Dr.Cr.
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669
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Dr.Cr.
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Liability increase
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Dr.Cr.
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1,221
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Dr.Cr.
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Journal entry
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$
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Dr.Cr.
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$
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Dr.Cr.
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Dr.Cr.
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Dr.Cr.
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Dr.Cr.
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Accumulated OCI, Dec. 31, 2013
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3,678
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Dr.Cr.
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0
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Balance, Dec. 31, 2014
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$3,494
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Dr.Cr.
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$719
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Dr.Cr.
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$4,096
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Dr.Cr.
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$12,523
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Dr.Cr.
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$8,427
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Dr.Cr.
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SHOW LIST OF ACCOUNTS
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LINK TO TEXT
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Exercise 20-18 The accounting staff of Usher Inc. has preparedthe following pension worksheet. Unfortunately, several entries inthe worksheet are not decipherable. The company has asked yourassistance in completing the worksheet and completing theaccounting tasks related to the pension plan for 2014. Determinethe missing amounts in the 2014 pension worksheet, indicatingwhether the amounts are debits or credits.
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