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Current Attempt in Progress The following defined pension data of Crane Corp. apply to the year 2025. Projected benefit obligation, 1/1/25 (before amendment) Plan
Current Attempt in Progress The following defined pension data of Crane Corp. apply to the year 2025. Projected benefit obligation, 1/1/25 (before amendment) Plan assets, 1/1/25 Pension liability, 1/1/25 $569,000 553,900 15,100. On January 1, 2025, Crane Corp., through plan amendment, grants prior service benefits having this present value 121,000 Settlement rate 8% Service cost 63,400 Contributions (funding) 62,400 Actual (expected) return on plan assets 52,700 Benefits paid to retirees 38,400 Prior service cost amortization for 2025 16,200 For 2025, prepare a pension worksheet for Crane that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive. If no entries then the input box should be left blank.) Items Balance, Dec. 31, 2024 Prior service cost Balance, Jan. 1, 2025 Service cost Interest cost Actual return " Amortization of PSC Contributions Benefits Annual Pension Expense Journal entry for 2025 Accumulated OCI, Dec. 31, 2024 > > < > < Cash $ $ Pension OCI-Prior Service Cost Asset/ Liability Projected Benefit Obligation > < < > < Assets Plan Balance, Dec. 31, 2025
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