M N N o B D E F G H 1 J K L M 1 The following defined pension data of Rydell Corp. apply to the year 2017. 2 3 Projected benefit obligation, 1/1/17 (before amendment) $ 560,000 4 Plan assets, 1/1/17 546,200 5 Pension liability 13,800 6 On January 1, 2017, Rydell Corp., through plan amendment, grants prior 7 service benefits having a present value of 120,000 8 Settlement rate 9% 9 Service cost $ 58,000 10 Contributions (funding) 65,000 11 Actual (expected) return on plan assets 52,280 12 Benefits paid to retirees 40,000 13 Prior service cost amortization for 2017 17,000 14 15 Instructions: 16 For 2017, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. 17 AutoSave OM Homework (pension (1) Search (Alt+a) sharon wirn SW File Home Insert Draw Page Layout Formulas Data Review View Help Comments Share Autosum AY Fill Sort Find Filter Select Analyze Data Clear Editing Analysis a R S T 2 Liberation Sans v 11 ~ A A == 2 Wrap Text Custom P2 LA II Paste BIU CA Cell Merge Center Conditional Format as $ - % Insert Delete Format Formatting Table Styles Undo Clipboard Font 5 Alignment Number Styles Cells K7 fr 120000 D E F G H 1 K L M N 0 13 Prior service cost amortization for 2017 17.000 14 15 Instructions: 16 For 2017, prepare a pension worksheet for Rydell Corp. that shows the joumal entry for pension expense and the year-end balances in the related pension accounts. 17 18 RYDELL CORP. 19 Pension Worksheet-2017 20 General Journal Entries Memo Record 21 Annual OCH-Prior Pension Projected Pension Service Asset/ Benefit Plan 23 Items Expense Cash Cost Liability Obligation Assets 24 Balance, Dec. 31, 2016 25 Prior service cost 26 Balance, Jan. 1, 2017 27 Service cost 28 Interest cost* 29 Actual return 30 Amortization of PSC 31 Contributions 32 Benefits 33 Journal entry for 2017 34 Accumulated OCI, Dec. 31, 2016 , 35 Balance, Dec. 31, 2017 36 37 30 39 40 Q1 Q2 Reacy E 100% $40 PM 11/28/2021