of the same amount based on projected costs. During 2017, the current service cost was $27,950, the discount rate on the DBO and plan assets-s e%, adme $17,500, and the cost of past service benefits granted efective December .urn on plan assets was $31,5s0, contributions by Cullumber were s2 Prepare a pension work sheet for Cullumber Corporation for 2017 Corporation had plan assets of $261,000 and a defined benefit obligation ,450, benefits paid were plan At January 1, 2017, Cullumber December 31, 2017, was $29,000, assuming that Cullumber follows ASPE. CULLUMBER CORPORATION Pension Worksheet-2017 Memo Record General Journal Entries Annual Pension Expense Net Def. Benefit Liability / Delined Benefit Plan Assets Obligation Cash Item 261000 261000 r. v 27950Cr. Service cort 6100 Dr. Y 26100Cr. Net interest/finance cost Remeasurement gain on plan assets Past service cost 52200 290 r. 290 |Dr. 20450 17500Dr. Benefits paid Expense entry Dr. r ' Net Def Benefit Liability / Asset Defined Benefit Obligation Annual Plan Assets 2610001Cr. Tcr. $ 26100'(Dr. Service cost 26100 Cr. 26100 Dr. Net interest/finance cost 52200 Remeasurement gain on plan assets 5450Cr. 29000 Cr. Past service cost 290001 TDr. 20450 |Dr. 20450 |Cr. 1750 TDr. 1750. Benefits paid Cr. Expense entry Contribution entry 2045 Cr. 20450 Dr. 19750 326550 Cr. 295500 Dr. Bal. 12/31/17