At the end of $2023,$ the balances in the accounts related to the defined benefit pension plan of the Knight Company were as follows:

On $1/1/24,$ Knight amended the plan to provide an increased amount of pension benefits; the prior service cost resulting from this

amendment was $$36,000.$ At $1/1/24,$ the average remaining service life of employees expected to receive benefits was $14$ years.

The following information relates to the year $2024$:

In $2024,$ Knight's actual return on plan assets was $$48,000.$ Knight follows a policy of recognizing gainsflosses on a delayed basis

using the "corridor approach". At the end of $2024,$ there was one change in the estimates and assumptions relating to computation of the

projected benefit obligation, resulting in an increase in the PBO of $$23,000.$

Bequired:

a$.$ Prepare Knight's pension worksheet, and prepare the journal entry that Knight would make to record the expense calculated.

Annual

Pension

Expense

Cash OCl$-$PSC OCl$-$Gill

Balance $1/1/24$

Plan Amendment

Service Cost

Interest Cost

apected Return of Plan Assets

Actual Return

Amortization of PSC

Contributions

Benefits

Journal Entry for $2024$

Accumulated OCl,$11123$

Balance $12/31/24$

b$.$

c$.$

Which items will be reported on the financial statements for $2024$ and where will they be reported?

Prepare the pension note required for the $12/31/24$ financial statements.

Memo Record

Pension

Asset.

Liability

Projected

Benefit

Plan

Obligatio Assets