As an accounting staff of Baron Company, you are ask to do the do the journal entry for pension expense for year 2018. Data provided for computing the pension expense were:

Service Cost : $56,000

Contribution - funding : 65,000

Discount - interest rate : 9%

Pension liability : 13,800

Plan Asset on Jan 1, 2018 : 546,200

Defined Benefit Obligation Jan 1, 2018 : 560,000

On January 2, 2018, the company has amended the plan to grant past service benefit having present value of $120,000. The company get notification that the actual return on plan assets is $49,158. Throughout the year 2018, there are several employee retire and they get benefit as much as $41,000

Questions:

1.How is worksheet?

2.How is the journal?