Part 1/3

Pharoah Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2019, with the following beginning balances: plan assets $197,700; projected benefit obligation $254,000. Other data relating to 3 years operation of the plan are as follows.

		2019			2020			2021
Annual service cost		$15,800			$18,800			$25,900
Settlement rate and expected rate of return		10	%		10	%		10	%
Actual return on plan assets		18,300			21,810			24,500
Annual funding (contributions)		15,800			40,800			48,900
Benefits paid		13,700			16,700			20,600
Prior service cost (plan amended, 1/1/20)					157,900
Amortization of prior service cost					54,900			42,400
Change in actuarial assumptions establishes a December 31, 2021, projected benefit obligation of:								529,000

Prepare a pension worksheet presenting all 3 years pension balances and activities.