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How do I do this? I cannot find help with step by step answers. Please explain your answers. Exercise 20-3 (Part Level Submission) Coronado Company

How do I do this? I cannot find help with step by step answers. Please explain your answers.image text in transcribed

Exercise 20-3 (Part Level Submission) Coronado 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 $91,400 102,900 9,600 64,900 40,600 632,300 686,100 147,300 11% Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.) CORONADO COMPANY Pension 2017 Annual Pension Expense OCI Prior Service Cost Pension Asset/ Liability Projected Benefit obligation Plan Assets Items Cash Balance, January 1, 2017 Service cost Interest cost Actual return Amortization of PSC Contributions Benefits 1400 900 102900 102900 $144271 Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 174300 164700

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