I need help figuring out the pension expense for each year and the journal entries that go with each year.

Hiatt Toothpaste Company initiates a defined benefit pension plan for its 50 employees on January 1, 2014. The insurance company which administers the pension plan provided the following selected information for the years 2014, 2015, and 2016. For Year Ended December 31, 2014 2015 2016 Plan assets (fair value) $53,20 0 Accumulated benefit obligation 54,000 Projected benefit obligation 62,020 $82,94 0 174,80 0 192,98 2 Net (gain) loss (for purposes of corridor calculation) 0 78,800 92,400 Employer's funding contribution (made at end of year) 53,200 62,020 109,200 $173,834 295,800 342,900 There were no balances as of January 1, 2014, when the plan was initiated. The actual and expected return on plan assets was 10% over the 3-year period, but the settlement rate used to discount the company's pension obligation was 13% in 2014, 11% in 2015, and 8% in 2016. The service cost component of net periodic pension expense amounted to the following: 2014, $62,020; 2015, $82,940; and 2016, $119,100. The average remaining service life per employee is 12 years. No benefits were paid in 2014, $37,600 of benefits were paid in 2015, and $26,600 of benefits were paid in 2016 (all benefits paid at end of year). Calculate the amount of net periodic pension expense that the company would recognize in 2014, 2015, and 2016. (Round answers to 0 decimal places, e.g. 2,525.) Pension expense for 2014 Pension expense for 2015 Pension expense for 2016 $ $ $ Prepare the journal entries to record net periodic pension expense, employer's funding contribution, and related pension amounts for the years 2014, 2015, and 2016. Hiatt Toothpaste Company initiates a defined benefit pension plan for its 50 employees on January 1, 2014. The insurance company which administers the pension plan provided the following selected information for the years 2014, 2015, and 2016. Plan assets (fair value) Accumulated benefit obligation Projected benefit obligation Net (gain) loss (for purposes of corridor calculation) Employer's funding contribution (made at end of year) For Year Ended December 31, 2014 $53,200 54,000 62,020 0 53,200 There were no balances as of January 1, 2014, when the plan was initiated. The actual and expected return on plan assets was 10% over the 3-year period, but the settlement rate used to discount the company's pension obligation was 13% in 2014, 11% in 2015, and 8% in 2016. The service cost component of net periodic pension expense amounted to the following: 2014, $62,020; 2015, $82,940; and 2016, $119,100. The average remaining service life per employee is 12 years. No benefits were paid in 2014, $37,600 of benefits were paid in 2015, and $26,600 of benefits were paid in 2016 (all benefits paid at end of year). Calculate the amount of net periodic pension expense that the company would recognize in 2014, Pension expense for 2014 consisted only of the service cost component amounting to $62,020. There were no prior service cost, net gain or loss, plan assets, or projected benefit obligation as of January 1, 2014. Pension expense for 2015 comprised the following: Service cost Interest on projected benefit obligation Expected return on plan assets Amortization of net gain or loss Amortization of prior service cost Pension expense 5940 -5320 0 0 Pension expense for 2016 comprised the following: Service cost Interest on projected benefit obligation Expected return on plan assets Amortization of net gain or loss Amortization of prior service cost 13984 -8294 5867 0 Pension expense Year Projected Benefit Obligation 2,014 2,015 2,016 Plan assets 62,020 82,940 53,200 82,940 Prepare the journal entries to record net periodic pension expense, employer's funding contribution, and related pension amounts for the years 2014, 2015, and 2016. Account title & explanation Pension expense Cash Pension Asset / Liability Account title & explanation Pension expense Other comprehensive income (G/L) Cash Pension Asset / Liability Account title & explanation Pension expense Other comprehensive income (G/L) Cash Pension Asset / Liability 2014 Debit 62,020 2015 Debit 83,560 78,800 2016 Debit 130,657 37,559 2014, 2015, and 2016. Ended December 31, 2015 $82,940 174,800 192,982 78,800 62,020 od, but the 13% in 2014, c pension No benefits benefits y would recognize in 2014, 2015, and 2016. $82,940 620 $83,560 $119,100 11557 2016 $173,834 295,800 342,900 92,400 109,200 $130,657 Corridor @10% 6,202 8,294 2015, and 2016. credit 53,200 8,820 credit 62,020 100,340 credit 109,200 59,016 Cummulative Unrecognized (Gain )or loss Minimum amortization of (gain) Loss 78,800 5,876 Hiatt Toothpaste Company initiates a defined benefit pension plan for its 50 employees on January 1, 2014. The insurance company which administers the pension plan provided the following selected information for the years 2014, 2015, and 2016. Plan assets (fair value) Accumulated benefit obligation Projected benefit obligation Net (gain) loss (for purposes of corridor calculation) Employer's funding contribution (made at end of year) For Year Ended December 31, 2014 $53,200 54,000 62,020 0 53,200 There were no balances as of January 1, 2014, when the plan was initiated. The actual and expected return on plan assets was 10% over the 3-year period, but the settlement rate used to discount the company's pension obligation was 13% in 2014, 11% in 2015, and 8% in 2016. The service cost component of net periodic pension expense amounted to the following: 2014, $62,020; 2015, $82,940; and 2016, $119,100. The average remaining service life per employee is 12 years. No benefits were paid in 2014, $37,600 of benefits were paid in 2015, and $26,600 of benefits were paid in 2016 (all benefits paid at end of year). Calculate the amount of net periodic pension expense that the company would recognize in 2014, Pension expense for 2014 consisted only of the service cost component amounting to $62,020. There were no prior service cost, net gain or loss, plan assets, or projected benefit obligation as of January 1, 2014. Pension expense for 2015 comprised the following: Service cost Interest on projected benefit obligation Expected return on plan assets Amortization of net gain or loss Amortization of prior service cost Pension expense 5940 -5320 0 0 Pension expense for 2016 comprised the following: Service cost Interest on projected benefit obligation Expected return on plan assets Amortization of net gain or loss Amortization of prior service cost 13984 -8294 5867 0 Pension expense Year Projected Benefit Obligation 2,014 2,015 2,016 Plan assets 62,020 82,940 53,200 82,940 Prepare the journal entries to record net periodic pension expense, employer's funding contribution, and related pension amounts for the years 2014, 2015, and 2016. Account title & explanation Pension expense Cash Pension Asset / Liability Account title & explanation Pension expense Other comprehensive income (G/L) Cash Pension Asset / Liability Account title & explanation Pension expense Other comprehensive income (G/L) Cash Pension Asset / Liability 2014 Debit 62,020 2015 Debit 83,560 78,800 2016 Debit 130,657 37,559 2014, 2015, and 2016. Ended December 31, 2015 $82,940 174,800 192,982 78,800 62,020 od, but the 13% in 2014, c pension No benefits benefits y would recognize in 2014, 2015, and 2016. $82,940 620 $83,560 $119,100 11557 2016 $173,834 295,800 342,900 92,400 109,200 $130,657 Corridor @10% 6,202 8,294 2015, and 2016. credit 53,200 8,820 credit 62,020 100,340 credit 109,200 59,016 Cummulative Unrecognized (Gain )or loss Minimum amortization of (gain) Loss 78,800 5,876