Exercise 20-7

The following defined pension data of Carla Corp. apply to the year 2017.

Projected benefit obligation, 1/1/17 (before amendment)		$504,000
Plan assets, 1/1/17		489,500
Pension liability		14,500
On January 1, 2017, Carla Corp., through plan amendment, grants prior service benefits having a present value of		126,000
Settlement rate		9	%
Service cost		55,000
Contributions (funding)		68,300
Actual (expected) return on plan assets		48,600
Benefits paid to retirees		36,300
Prior service cost amortization for 2017		16,600

For 2017, prepare a pension worksheet for Carla Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts.