Brief Exercise 20-3 At January 1, 2017, Kingbird Company had plan assets of $296,500 and a projected benefit obligation of the same amount. During 2017, service cost was $28,400, the settlement rate was 10%, actual and expected return on plan assets were $24,200, contributions were $19,900, and benefits paid were $17,500 Prepare a pension worksheet for Kingbird Company for 2017 KINGBIRD COMPANY General Journal Entries Memo Record Projected Benefit Pension Pension Plan Asset/Liability Cash Obligation Items Expense Assets 1/1/17 $ $ Service cost Interest cost Actual return Contributions Benefits Journal entry, 12/31/17 $ Balance, 12/31/17 $ LA HA HA- +A