Exercise 20-3 (Part Level Submission)

Culver Company provides the following information about its defined benefit pension plan for the year 2017.

Service cost		$89,800
Contribution to the plan		107,000
Prior service cost amortization		10,700
Actual and expected return on plan assets		65,200
Benefits paid		40,100
Plan assets at January 1, 2017		647,500
Projected benefit obligation at January 1, 2017		707,800
Accumulated OCI (PSC) at January 1, 2017		147,500
Interest/discount (settlement) rate		9	%

Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017.

--------------------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
Contribution
Benefits
Journal Entry for 2017	$	$
Accumulated OCI, Dec. 31, 2016	-----------------	-------
Balance, Dec. 31, 2017	-----------------	-------	$	$	$	$