E20-7B (Basic Pension Worksheet) The following defined pension data of Eagle Homes Corporation apply to the year 2014. Projected benefit obligation, January 1, 2014 (before amendment) $1,255,000 Plan assets, January 1, 2014 1,195,600 Pension liability, Ja

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E20-7B (Basic Pension Worksheet) The following defined pension data of Eagle Homes Corporation apply to the year 2014.

Projected benefit obligation, January 1, 2014

      (before amendment)                                                                                $1,255,000

Plan assets, January 1, 2014                                                                         1,195,600

Pension liability, January 1, 2014                                                                       59,400

On January 1, 2014, Eagle Home Corp., through plan amendment,

        grants prior service benefits having a present value of                        200,000

Settlement rate 6%

Service cost                                                                                                            69,000

Contributions (funding)                                                                                         85,000

Actual and expected return on plan assets                                                      43,610

Benefits paid to retirees                                                                                       52,000

Prior service cost amortization for 2014                                                           25,000

Instructions

For 2014, prepare a pension worksheet for Eagle Homes that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

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