20.23

Hi I need help with the assignment attached, thanks

Pharoah Co. provides the following information about its postretirement benefit plan for the year 2017. Service cost $91,700 Prior service cost amortization 3,200 Contribution to the plan 59,100 Actual and expected return on plan assets 65,100 Benefits paid 42,800 Plan assets at January 1, 2017 703,900 Accumulated postretirement benefit obligation at January 1, 2017 766,800 Accumulated OCI (PSC) at January 1, 2017 107,300 Dr. Discount rate 9% Prepare a worksheet inserting January 1, 2017, balances, showing December 31, 2017, balances, and the journal entry recording postretirement benefit expense. (Enter all amounts as positive.) PHAROAH CO. Postretirement Benefit Worksheet2017 General Journal Entries Items Annual Postretireme nt Expense Cash $ $ $ $ Balanc e, Jan. 1, 2017 Service cost Interest cost Actual return Contrib utions Benefit s Amorti zation of PSC Journal entry for 2017 Accum ulated OCI, OCIPrior Service Cost $ Memo Record Postretireme nt Asset/ Liability $ APBO Plan Assets $ $ Dec. 31, 2016 Balanc e, Dec. 31, 2017 $ $ $ $