Chapter 20 Pension Problem Worksheets, Computations, and Journal Entries XYZ Company has a defined benefit pension plan on January 1, 2015. The following are the beginning balances as of January 1, 2015 S600,000 Projected Benefit Obligation 600,000 Plan Assets other relevant information for the three year period of 2015 2017 is shown below. 2017 Settlement rate and expected rate of return 8% 8% Prior service cost (plan amended $280,000 $40,000 Service Cost 48,000 $60,000 11,000 Contributions 30,000 58,000 Actual Return on plan assets 50,000 60,000 40,000 26,000 Benefits Paid 31,000 45,000 Amortization of Prior Service Cost 38,000 56,000 Change in Actuarial Assumptions to change Projected Benefit Obligation on 0,000 Chapter 20 Pension Problem Worksheets, Computations, and Journal Entries XYZ Company has a defined benefit pension plan on January 1, 2015. The following are the beginning balances as of January 1, 2015 S600,000 Projected Benefit Obligation 600,000 Plan Assets other relevant information for the three year period of 2015 2017 is shown below. 2017 Settlement rate and expected rate of return 8% 8% Prior service cost (plan amended $280,000 $40,000 Service Cost 48,000 $60,000 11,000 Contributions 30,000 58,000 Actual Return on plan assets 50,000 60,000 40,000 26,000 Benefits Paid 31,000 45,000 Amortization of Prior Service Cost 38,000 56,000 Change in Actuarial Assumptions to change Projected Benefit Obligation on 0,000