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Please provide me with the correct answer to this question Exercise 20-7 The following defined pension data of Carla Corp. apply to the year 2017
Please provide me with the correct answer to this question
Exercise 20-7 The following defined pension data of Carla Corp. apply to the year 2017 Projected benefit obligation, 1/1/17 (before amendment) Plan assets, 1/1/17 Pension liability On January 1, 2017, Carla Corp., through plan amendment, $569,000 553,900 15,100 121,000 grants prior service benefits having a present value of Settlement rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2017 8% 63,400 62,400 52,700 38,400 16,200 For 2017, prepare a pension worksheet for Carla Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all a CARLA CORP Pension Worksheet-2017 eneral Journal Entrie em Annual Pension Expense OCI-Prior Service Cost Pension Asset/ Liability Projected Benefit Obligation Plan Assets Items Balance, Dec. 31, 2016 Prior service cost Balance, Jan. 1, 2017 Service cost Interest cost Actual return Amortization of PSC Contributions Benefits Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 CashStep by Step Solution
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