Exercise 20-3 (Part Level Submission)

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

Service cost		$91,100
Contribution to the plan		103,300
Prior service cost amortization		9,400
Actual and expected return on plan assets		65,100
Benefits paid		40,500
Plan assets at January 1, 2017		650,700
Projected benefit obligation at January 1, 2017		694,300
Accumulated OCI (PSC) at January 1, 2017		151,900
Interest/discount (settlement) rate		10	%

(a)

Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.)

WILDHORSE 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

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

Service cost

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Interest cost

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Actual return

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Amortization of PSC

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Contributions

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Benefits

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Journal entry for 2017

$

Dr.Cr.

$

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Accumulated OCI, Dec. 31, 2016

Dr.Cr.

Dr.Cr.

Dr.Cr.

Dr.Cr.

Balance, Dec. 31, 2017

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.

$

Dr.Cr.