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Exercise 20-3 (Part Level Submission) Teal Company provides the following information about its defined benefit pension plan for the year 2017. Service cost Contribution to
Exercise 20-3 (Part Level Submission) Teal Company provides the following information about its defined benefit pension plan for the year 2017. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Projected benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Interest/discount (settlement) rate $90,300 106,800 9,600 63,800 39,700 629,900 706,100 150,800 10 % (a) Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.) TEAL COMPANY Pension Worksheet-2017. General Journal Entries OCI Cash Prior Service Cost Annual Pension Expense Pension Asset/ Liability Memo Record Projected Benefit Plan Obligation Assets Items 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 Exercise 20-3 (Part Level Submission) Teal Company provides the following information about its defined benefit pension plan for the year 2017. Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Projected benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Interest/discount (settlement) rate $90,300 106,800 9,600 63,800 39,700 629,900 706,100 150,800 10 % (a) Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.) TEAL COMPANY Pension Worksheet-2017. General Journal Entries OCI Cash Prior Service Cost Annual Pension Expense Pension Asset/ Liability Memo Record Projected Benefit Plan Obligation Assets Items 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
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