Kramer Co. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2014.

a.) Determine the missing amounts in the 2014 pension worksheet, indicating whether the amounts are debits or credits.

Please find numbers 1-11 on the sheet below. If possible the equation with them so I can learn how to do them.

b.) Then provide the journal entry to record 2014 pension expense for Kramer Co.

c.) Determine the following for Kramer for 2014: (1) settlement rate used to measure the interest on the liability and (2) expected return on plan assets.

	General Journal Entries						Memo Entries
							Projected
	Pension		OCI		Pension		Benefit	Plan
	Expense	Cash	PSC	Gains/Losses	Asset/Liab		Obligation	Assets
Balance, Jan 1					120,000.00		325,000.00	205,000.00
Service Cost	(1)						20,000.00
Interest Cost -	(2)						26,000.00
Actual return	(3)							18,000.00
Unexpected gain/loss	2,500.00			(4)
Amort of PSC	(5)		35,000.00
Amort of G/L
Funding		41,000.00						41,000.00
Benefits							(15,000.00)	(15,000.00)
Liability Gain/Loss							43,500.00
				(6)
Journal Entry	(7)	(8)	(9)	(10)
Balance Dec 31,					(11)		399,500.00	249,000.00
ACC OCI, Jan 1			(80,000.00)	-
ACC OCI Dec 31			(80,000.00)	46,000.00	150,500.00

Then Prepare a Pension Worksheet for 2015

The following data relate to the operation of Kramer Co.s pension plan in 2015.

Service cost		$59,000
Actual return on plan assets		32,000
Amortization of prior service cost		28,000
Annual contributions		51,000
Benefits paid retirees		27,000
Average service life of all employees		25 years

a.) Prepare a pension worksheet for 2015 and accompanying computations and amortization of the loss, if any, in 2015 using the corridor approach.

	General Journal Entries						Memo Entries
							Projected
	Pension		OCI		Pension		Benefit	Plan
	Expense	Cash	PSC	Gains/Losses	Asset/Liab		Obligation	Assets
Balance, Jan 1
Service Cost
Interest Cost -
Actual return
Unexpected gain/loss
Amort of PSC
Amort of G/L
Funding
Benefits
Liability Gain/Loss
Journal Entry	-	-	-	-
Balance Dec 31,					-		-	-
ACC OCI, Jan 1				-
ACC OCI Dec 31			-	-
B.)Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31. c.) Indicate the pension amounts reported in the financial statements.