Manon Corporation applies ASPE and sponsors a defined benefit pension plan. The following pension plan information is available for 2017 and 2018:

	2017	2018
Plan assets (fair value), December 31	$515,000	$642,000
Defined benefit obligation, January 1	600,000	700,000
Net defined benefit liability (asset), January 1	240,000	?
Current service cost	60,000	90,000
Actual return on plan assets	24,000	47,000
Funding of current service cost	60,000	90,000
Funding of past service costs	85,000	55,000
Benefits paid	?	?
Interest/discount rate	9%	9%

The pension fund paid out benefits in each year. There were no actuarial gains or losses incurred on the DBO in the two-year period.

Instructions

(a)

Calculate pension expense for 2017 and 2018.

(b)

Prepare all journal entries to record the pension expense and the company's pension plan funding for both years.

(c)

Prepare the complete pension work sheets for Manon for 2017 and 2018.

(d)

Prepare the required pension disclosure notes to the financial statements at December 31, 2018.

anon Corporation applies ASPE and sponsors a defined benefit pension plan. The following pension plan information is available for 2017 and 201 2017 2018 $515,000 $642,000 600,000 700,000 240,000 Plan assets (fair value), December 31 Defined benefit obligation, January 1 Net defined benefit liability (asset), January 1 Current service cost Actual return on plan assets Funding of current service cost Funding of past service costs Benefits paid Interest/discount rate 60,000 90,000 24,000 47,000 60,000 90,000 85,000 55,000 9% The pension fund paid out benefits in each year. There were no actuarial gains or losses incurred on the DBO in the two-year period Instructions (a) Calculate pension expense for 2017 and 2018. (b) Prepare all journal entries to record the pension expense and the company's pension plan funding for both years. (c) Prepare the complete pension work sheets for Manon for 2017 and 2018 (d) Prepare the required pension disclosure notes to the financial statements at December 31, 2018