$1,000,000 500,000 1,840,000 250,000 120,000 10% Service cost Actual return on plan assets Annual contribution to the plan Amortization of prior service cost Benefits paid to retirees Settlement rate...

Extracted text: $1,000,000 500,000 1,840,000 250,000 120,000 10% Service cost Actual return on plan assets Annual contribution to the plan Amortization of prior service cost Benefits paid to retirees Settlement rate Expected rate of return on plån assets 8% Balances at 12/31/2020 are: Prior Service Cost Projected Benefit Obligation Plan Assets 1,250,000 Dr 8,000,000 Cr 5,500,000 Dr


Extracted text: Uusing the above information for Marlin Corporation, complete the pension work sheet for 2021. Indicate (credit) entries by parentheses. Calculated amounts should be supported. Prepare the journal entry to reflect the accounting for the company's pension plan for the year ending December 31, 2021. Assume that Marlin Corporation has a 401(k) plan in addition to the defined benefit plan and contributed $125,000 to the 401(k) plan in 2021. Prepare the journal entry, if any, to reflect this 2021 activity.