Problem 20-1 On January 1, 2017, Ayayal Company has the following defined benefit penslon plan balances. Projected benefit obllgation Fair value of plan assets The interest (settlement) rate applicable to the plan is 10%. on January 1, 2018, the company amends its pension agreement so that prior service costs of s490,000 are created. Other data related to the pension plan are as follows. S4,456,000 4,270,00D 2017 2018 $180,000 89,000 289,000 283,000 261,000 $149,000 Service cost Prior service cost amortization Contributions (funding) to the plan Benefits pald Actual return on plan assets Expected rate of return on assets 245,000 203,000 256,200 6 9 Prepare a pension worksheet for the pension plan for 2017 and 2018. (Enter all amounts as positive.) AYAYAI COMPANY Pension Workshect-2017 and 201S Annual Pension Expense OCI-Prior Service Cost ocI-Gain/ Loss Pension Asset/ Liability Projected Benefit obligation Plan Assets Items Balance, Jan, 1, 2017 Service cost Cash AYAYAI COMPANY Pension Worksheet-2017 and 2018 General Journal Entries Memo Record Annual Pension Expense oCI-Prior Service Cost OCI-Gain/ Loss Pension Asset/ Liability Projected Benefit Obligation Plan Assets Items Cash Balance, Jan. 1, 2017 Service cost Interest cost Actual return Contributions Benefits Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Additional PSC, 1/1/2018 Balance, Jan. 1, 2018 Service cost NEXT Interest cost Actual return Unexpected loss Amortizatlon of PSC Benerits ournal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 For 2018, prepare the joumal entry to record penslon-related amounts. (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 o for the amounts.) Account Titles and Explanation Deblt Credit Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 3 used SAVE FOR LATER SUBMII