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Exercise 20-7 The following defined pension data of Carla Corp. apply to the year 2017 Projected benefit obligation, 1/1/17 (before amendment) Plan assets, 1/1/17 Pension
Exercise 20-7 The following defined pension data of Carla Corp. apply to the year 2017 Projected benefit obligation, 1/1/17 (before amendment) Plan assets, 1/1/17 Pension liability On January 1, 2017, Carla Corp., through plan amendment, $616,000 601,600 14,400 126,000 grants prior service benefits having a present value of Settlement rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2017 9% 61,500 61,000 54,800 42,700 15,600 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. (Enter all amounts as positive.)
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