Question
Exercise 20-3 (Part Level Submission) Ayayai Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $90,100 Contribution
Exercise 20-3 (Part Level Submission) Ayayai Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $90,100 Contribution to the plan 104,900 Prior service cost amortization 10,800 Actual and expected return on plan assets 63,000 Benefits paid 40,700 Plan assets at January 1, 2017 643,200 Projected benefit obligation at January 1, 2017 690,100 Accumulated OCI (PSC) at January 1, 2017 150,500 Interest/discount (settlement) rate 10 % Collapse question part (a) Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.) AYAYAI COMPANY Pension Worksheet2017. General Journal Entries Memo Record Items Annual Pension Expense Cash OCI Prior Service Cost Pension Asset/ Liability Projected Benefit Obligation Plan Assets Balance, January 1, 2017 $ $ $ $ $ $ Service cost Interest cost Actual return Amortization of PSC Contributions Benefits Journal entry for 2017 $ $ Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started