Exercise 20-14 (Part Level Submission)

Bridgeport Company sponsors a defined benefit pension plan. The corporations actuary provides the following information about the plan.

		January 1, 2017		December 31, 2017
Vested benefit obligation		$1,490		$1,870
Accumulated benefit obligation		1,870		2,770
Projected benefit obligation		2,450		3,340
Plan assets (fair value)		1,660		2,580
Settlement rate and expected rate of return				10%
Pension asset/liability		790		?
Service cost for the year 2017				410
Contributions (funding in 2017)				680
Benefits paid in 2017				200

(a1) Prepare a 2017 pension worksheet. (Enter all amounts as positive.) (B1) Preapre JOurnal entries for dec 31 2017 for pension exp and other accounts Indicate pension amount shown on the balance sheet