Pension Accounting: Shasta Company provides the following information about its defined benefit pension plan for 2018.

Service cost $ 77,525

Contribution to the plan 98,250

Prior service cost amortization 16,125

Actual and expected return on plan assets 84,175

Benefits paid 62,500

Plan assets at January 1, 2012 775,000

Projected benefit obligation at January 1, 2012 900,000

Accumulated OCI (PSC) at December 31, 2011 180,000

Interest/discount (settlement) rate 10%

Prepare a pension worksheet and answer the following questions:

Pension Worksheet						Memo Record
Items	Pension Expense	Cash	PSC	Pension Asset/Liability		Projected Benefit Obligation	Plan Assets
Balance @ 01/01/2012
Journal Entry
AOCI - 12/31/17
Dec. 31st, 2018

B.What is the pension expense for the year 2018? $99,475

17) Prepare the journal entry for 2018:

Journal Entry:				DR	CR