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21-Carolina Consulting Company has a defined benefit pension plan. The following pension-related data were available for...

21-Carolina Consulting Company has a defined benefit pension plan. The following pension-related data were available for the current calendar year:

PBO:

Balance, Jan. 1

$

237,000

Service cost

38,000

Interest cost (5% discount rate)

11,850

Gain from changes in actuarial assumptions in 2021

(4,700

)

Benefits paid to retirees

(17,000

)

Balance, Dec. 31

$

265,150

Plan assets:

Balance, Jan.1

$

247,000

Actual return (expected return was $22,200)

20,000

Contributions

32,000

Benefits paid

(17,000

)

Balance, Dec. 31

$

282,000

ABO, Dec. 31

$

241,700

January 1, 2021, balances:

Prior service cost–AOCI (amortization $4,945/yr.)

4,945

Net gain–AOCI (amortization, if any, over 15 years)

49,450

There were no other relevant data.

Required:

1. Calculate the 2021 pension expense.

2. Prepare the 2021 journal entries to record pension expense and funding.

3. Prepare any journal entries to record any 2021 gains or losses.

don't ask for more information that the only thing we have

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