(Please fill attached form) Metlock Company sponsors a defined benefit pension plan for its employees The following data relate to the operation of the plan for the years 2017 and 2018 2017 2018 Projected benefit obligation, January 1 $597,000 Plan assets (fair value and market related value), January 1 406,600 Pension asset liability, January 1 190,400 Cr Prior service cost, January 1 161,100 Service cost 39,900 $58,800 Settlement rate 10 10 Expected rate of return 10 10 Actual return on plan assets 36,300 61,100 Amortization of prior service cost 70,500 50,300 Annual contributions 96,900 80,900 Benefits paid retirees 31,300 53,800 Increase in projected benefit obligation due to changes in actuarial assumptions 87,400 0 Accumulated benefit obligation at December 31 721,900 788,400 Average service life of all employees 20years Vested benefit obligation at December 31461,900 Prepare a pension worksheet presenting both years 2017 and 2018 (Round answers to 0 decimal places, e g 5,125 Enter all amounts as positive ) METLOCK COMPANY Pension Worksheet 2017 and 2018 General Journal Entries Memo Record Items Annual Pension Expense Cash OCI Prior Service Cost OCI Gain Loss Pension Asset Liability Projected Benefit Obligation Plan Assets Balance, Jan 1, 2017 $ DrCr $ DrCr $ DrCr $ DrCr $ DrCr $ DrCr $ DrCr Service cost DrCr DrCr DrCr DrCr DrCr DrCr DrCr Interest cost DrCr DrCr DrCr DrCr DrCr DrCr DrCr Actual return DrCr DrCr DrCr DrCr DrCr DrCr DrCr Unexpected loss DrCr DrCr DrCr DrCr DrCr DrCr DrCr Amortization of PSC DrCr DrCr DrCr DrCr DrCr DrCr DrCr Contributions DrCr DrCr DrCr DrCr DrCr DrCr DrCr Benefits DrCr DrCr DrCr DrCr DrCr DrCr DrCr Increase in PBO DrCr DrCr DrCr DrCr DrCr DrCr DrCr Journal entry for 2017 $ DrCr $ DrCr DrCr DrCr DrCr DrCr DrCr Accumulated OCI, Dec 31, 2016 DrCr DrCr DrCr DrCr DrCr Balance, Dec 31, 2017 DrCr DrCr DrCr DrCr DrCr Service cost DrCr DrCr DrCr DrCr DrCr DrCr DrCr Interest cost DrCr DrCr DrCr DrCr DrCr DrCr DrCr Actual return DrCr DrCr DrCr DrCr DrCr DrCr DrCr Unexpected gain DrCr DrCr DrCr DrCr DrCr DrCr DrCr Amortization of PSC DrCr DrCr DrCr DrCr DrCr DrCr DrCr Amortization of loss DrCr DrCr DrCr DrCr DrCr DrCr DrCr Contributions DrCr DrCr DrCr DrCr DrCr DrCr DrCr Benefits DrCr DrCr DrCr DrCr DrCr DrCr DrCr Journal entry for 2018 $ DrCr $ DrCr DrCr DrCr DrCr DrCr DrCr Accumulated OCI, Dec 31, 2017 DrCr DrCr DrCr DrCr DrCr Balance, Dec 31, 2018 $ DrCr $ DrCr $ DrCr $ DrCr $ DrCr Accompanyingcomputations and amortization of the loss (2018) using the corridor approach Amortization of the loss $ Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year (Round answers to 0 decimal places, e g 5,125 Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Date Account Titles and Explanation Debit Credit Dec 31, 2017 Dec 31, 2018 For 2018, indicate the pension amounts reported in the financial statements (Round answers to 0 decimal places, e g 5,125 ) MetlockCompany Income Statement (Partial) December 31, 2018For the Year Ended December 31, 2018For the Quarter Ended December 31, 2018 DividendsExpensesNet Income (Loss)Retained Earnings, January 1, 2018Retained Earnings, December 31, 2018RevenuesTotal ExpensesTotal Revenues Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss) $ MetlockCompany Comprehensive Income Statement December 31, 2018For the Year Ended December 31, 2018For the Quarter Ended December 31, 2018 DividendsExpensesNet Income (Loss)Retained Earnings, January 1, 2018Retained Earnings, December 31, 2018RevenuesTotal ExpensesTotal Revenues $ XXX Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss) Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss) $ Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss) Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss) $ Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss) $ XXX MetlockCompany Partial Balance Sheet December 31, 2018For the Year Ended December 31, 2018For the Quarter Ended December 31, 2018 Current AssetsCurrent LiabilitiesIntangible AssetsLong term InvestmentsLong term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity Accounts PayableAccounts ReceivableAccumulated DepreciationAccumulated Other Comprehensive Income (G L)Accumulated Other Comprehensive Loss (G L)Accumulated Other Comprehensive Income (PSC)Accumulated Other Comprehensive Loss (PSC)Common StockPension LiabilityRetained Earnings $ Current AssetsCurrent LiabilitiesIntangible AssetsLong term InvestmentsLong term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity Accounts PayableAccounts ReceivableAccumulated DepreciationAccumulated Other Comprehensive Income (G L)Accumulated Other Comprehensive Loss (G L)Accumulated Other Comprehensive Income (PSC)Accumulated Other Comprehensive Loss (PSC)Common StockPension LiabilityRetained Earnings $ Accounts PayableAccounts ReceivableAccumulated DepreciationAccumulated Other Comprehensive Income (G L)Accumulated Other Comprehensive Loss (G L)Accumulated Other Comprehensive Income (PSC)Accumulated Other Comprehensive Loss (PSC)Common StockPension LiabilityRetained Earnings Click if you would like to Show Work for this question Open Show Work Metlock Company sponsors a defined benefit pension plan for its employees The following data relate to the operation of the plan for the years 2017 and 2018 Projected benefit obligation, January 1 $597,000 Plan assets (fair value and market related value), January 1 Pension asset liability, January 1 Prior service cost, January 1 Service cost Settlement rate Expected rate of return Actual return on plan assets Amortization of prior service cost Annual contributions Benefits paid retirees Increase in projected benefit obligation due to changes in actuarial assumptions Accumulated benefit obligation at December 31 Average service life of all employees Vested benefit obligation at December 31 Prepare a pension worksheet presenting both years 2017 and 2018 (Round answers to 0 decimal places, e g 5,125 Enter all amounts as positive ) Items Balance, Jan 1, 2017 Service cost Interest cost Actual return METLOCK COMPANY Pension Worksheet2017 and 2018 General Journal Entries Memo Record Annual OCI Pension Projected Plan Pension Cas Prior OCI Asset Benefit Asset Expens h Servic Gain Loss Liabilit Obligatio s e e Cost y n $ $ $ $ $ $ $ Unexpected loss Amortization of PSC Contribution s Benefits Increase in PBO Journal entry for 2017 Accumulated OCI, Dec 31, 2016 Balance, Dec 31, 2017 Service cost $ $ Interest cost Actual return Unexpected gain Amortization of PSC Amortization of loss Contribution s Benefits Journal entry for 2018 Accumulated OCI, Dec 31, 2017 $ $ $ Balance, Dec 31, 2018 $ $ $ $ Accompanying computations and amortization of the loss (2018) using the corridor approach $ Amortization of the loss Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year (Round answers to 0 decimal places, e g 5,125 Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Date Dec 31, 2017 Dec 31, 2018 Account Titles and Explanation Debi Credi t t For 2018, indicate the pension amounts reported in the financial statements (Round answers to 0 decimal places, e g 5,125 ) Metlock Company Income Statement (Partial) $ Metlock Company Comprehensive Income Statement $ XXX $ $ $ XXX Metlock Company Partial Balance Sheet $ $ Click if you would like to Show Work for this question Open Show Work

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(Please fill attached form) Metlock Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan

(Please fill attached form) Metlock Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 2017 and 2018.

2017

2018

Projected benefit obligation, January 1 $597,000 Plan assets (fair value and market-related value), January 1 406,600 Pension asset/liability, January 1 190,400 Cr. Prior service cost, January 1 161,100 Service cost 39,900 $58,800 Settlement rate 10 % 10 % Expected rate of return 10 % 10 % Actual return on plan assets 36,300 61,100 Amortization of prior service cost 70,500 50,300 Annual contributions 96,900 80,900 Benefits paid retirees 31,300 53,800 Increase in projected benefit obligation due to changes in actuarial assumptions 87,400 0 Accumulated benefit obligation at December 31 721,900 788,400 Average service life of all employees 20years Vested benefit obligation at December 31461,900

Prepare a pension worksheet presenting both years 2017 and 2018.(Round answers to 0 decimal places, e.g. 5,125. Enter all amounts as positive.)

METLOCK COMPANY Pension Worksheet?2017 and 2018

General Journal Entries

Memo Record

Items

Annual Pension Expense

Cash

OCI?Prior Service Cost

OCI? Gain/Loss

Pension Asset/ Liability

Projected Benefit Obligation

Plan Assets

Balance, Jan. 1, 2017

DrCr.

Service cost

DrCr.

Interest cost

DrCr.

Actual return

DrCr.

Unexpected loss

DrCr.

Amortization of PSC

DrCr.

Contributions

DrCr.

Benefits

DrCr.

Increase in PBO

DrCr.

Journal entry for 2017

DrCr.

Accumulated OCI, Dec. 31, 2016

DrCr.

Balance, Dec. 31, 2017

DrCr.

Service cost

DrCr.

Interest cost

DrCr.

Actual return

DrCr.

Unexpected gain

DrCr.

Amortization of PSC

DrCr.

Amortization of loss

DrCr.

Contributions

DrCr.

Benefits

DrCr.

Journal entry for 2018

DrCr.

Accumulated OCI, Dec. 31, 2017

DrCr.

Balance, Dec. 31, 2018

DrCr.

Accompanyingcomputations and amortization of the loss (2018) using the corridor approach.

Amortization of the loss

Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year.(Round answers to 0 decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2017




Dec. 31, 2018

For 2018, indicate the pension amounts reported in the financial statements.(Round answers to 0 decimal places, e.g. 5,125.)

MetlockCompany Income Statement (Partial) December 31, 2018For the Year Ended December 31, 2018For the Quarter Ended December 31, 2018
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2018Retained Earnings, December 31, 2018RevenuesTotal ExpensesTotal Revenues
Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss)	$

MetlockCompany Comprehensive Income Statement December 31, 2018For the Year Ended December 31, 2018For the Quarter Ended December 31, 2018
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2018Retained Earnings, December 31, 2018RevenuesTotal ExpensesTotal Revenues	$ XXX
Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss)
Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss)	$
Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss)
Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss)
$
Amortization of LossAsset Gain (Loss)Comprehensive Income (Loss)Liability Gain (Loss)Pension ExpensePrior Service Cost AmortizationOther Comprehensive Income (Loss)	$ XXX

MetlockCompany Partial Balance Sheet December 31, 2018For the Year Ended December 31, 2018For the Quarter Ended December 31, 2018
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
Accounts PayableAccounts ReceivableAccumulated DepreciationAccumulated Other Comprehensive Income (G/L)Accumulated Other Comprehensive Loss (G/L)Accumulated Other Comprehensive Income (PSC)Accumulated Other Comprehensive Loss (PSC)Common StockPension LiabilityRetained Earnings	$
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
Accounts PayableAccounts ReceivableAccumulated DepreciationAccumulated Other Comprehensive Income (G/L)Accumulated Other Comprehensive Loss (G/L)Accumulated Other Comprehensive Income (PSC)Accumulated Other Comprehensive Loss (PSC)Common StockPension LiabilityRetained Earnings	$
Accounts PayableAccounts ReceivableAccumulated DepreciationAccumulated Other Comprehensive Income (G/L)Accumulated Other Comprehensive Loss (G/L)Accumulated Other Comprehensive Income (PSC)Accumulated Other Comprehensive Loss (PSC)Common StockPension LiabilityRetained Earnings

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Metlock Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 2017 and 2018. Projected benefit obligation, January 1 $597,000 Plan assets (fair value and market-related value), January 1 Pension asset/liability, January 1 Prior service cost, January 1 Service cost Settlement rate Expected rate of return Actual return on plan assets Amortization of prior service cost Annual contributions Benefits paid retirees Increase in projected benefit obligation due to changes in actuarial assumptions Accumulated benefit obligation at December 31 Average service life of all employees Vested benefit obligation at December 31 Prepare a pension worksheet presenting both years 2017 and 2018. (Round answers to 0 decimal places, e.g. 5,125. Enter all amounts as positive.) Items Balance, Jan. 1, 2017 Service cost Interest cost Actual return METLOCK COMPANY Pension Worksheet2017 and 2018 General Journal Entries Memo Record Annual OCI Pension Projected Plan Pension Cas Prior OCI Asset/ Benefit Asset Expens h Servic Gain/Loss Liabilit Obligatio s e e Cost y n $ $ $ $ $ $ $ Unexpected loss Amortization of PSC Contribution s Benefits Increase in PBO Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Service cost $ $ Interest cost Actual return Unexpected gain Amortization of PSC Amortization of loss Contribution s Benefits Journal entry for 2018 Accumulated OCI, Dec. 31, 2017 $ $ $ Balance, Dec. 31, 2018 $ $ $ $ Accompanying computations and amortization of the loss (2018) using the corridor approach. $ Amortization of the loss Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of each year. (Round answers to 0 decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Dec. 31, 2017 Dec. 31, 2018 Account Titles and Explanation Debi Credi t t For 2018, indicate the pension amounts reported in the financial statements. (Round answers to 0 decimal places, e.g. 5,125.) Metlock Company Income Statement (Partial) $ Metlock Company Comprehensive Income Statement $ XXX $ $ $ XXX Metlock Company Partial Balance Sheet $ $ Click if you would like to Show Work for this question: Open Show Work