Please answer ALL parts of the question.
55. Show the journal entry(s) for pension expense for 2017. 2pts> 50. What is the balance of pension plan assets at 12/31/2017?2pts> 5d. What is the balance of projected benefit obligation at 12/31/2017?
se. What amount of pension asset or liability does XYZ report on its balance sheet at 12/31/2017? Sf. What amount of Accumulated Other Comprehensive Income does XYZ report on its balance sheet? 5. XYZ has the following information for its defined benefit pension plan for the year ending 12/31/2017: Service cost is $56,000. Contributions to the pension plan are $145,000. No benefits were paid during the year. Amortization of prior service cost is calculated to be $50,000. There are no goins losses this year, and no amortization of goin/loss. The settlement interest rate is 9%. Actual and expected returns were $54,000 And as of January 1, 2017: Plan assets were $600,000, while projected benefit obligation was $900,000. Accumulated other comprehensive income for prior service cost had a $400,000 debit balance. 54. Show your calculation of pension expense for the year. Show each component of the expense to receive partial credit. 50. What is the balance of pension plan assets at 12/31/2017?2pts> 5d. What is the balance of projected benefit obligation at 12/31/2017? se. What amount of pension asset or liability does XYZ report on its balance sheet at 12/31/2017? Sf. What amount of Accumulated Other Comprehensive Income does XYZ report on its balance sheet? 5. XYZ has the following information for its defined benefit pension plan for the year ending 12/31/2017: Service cost is $56,000. Contributions to the pension plan are $145,000. No benefits were paid during the year. Amortization of prior service cost is calculated to be $50,000. There are no goins losses this year, and no amortization of goin/loss. The settlement interest rate is 9%. Actual and expected returns were $54,000 And as of January 1, 2017: Plan assets were $600,000, while projected benefit obligation was $900,000. Accumulated other comprehensive income for prior service cost had a $400,000 debit balance. 54. Show your calculation of pension expense for the year. Show each component of the expense to receive partial credit.