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Problem 20-10 Windsor Co. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance
Problem 20-10 Windsor Co. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are not decipherable. The company has asked your assistance in completing the worksheet and completing the accounting tasks related to the pension plan for 2017 Detemine the missing amounts in the 2017 pensian worksheet, indicating whether the amounts are debits or credits. (Enter all amounts as positive.) WINDSOR COMPANY Worksheet-2017 General Journal Entries Memo Record Annual Pension Expense OCI-Prior Service Cos OCI- Gain/ Loss Pension Asset/ LiabilityY Plan Assets Projected Benefit Items Cash Obligation Balance, Jan. 1, 2017 $148,800+ 5403,0005254,200 Dr Service cost 24,800i Interest cost 32,240 Actual return 22,320 Dr Unexpected loss Amortization of PSC Contributions Benefits 3,100 $43,400 550,840 50,840 Dr 18,500 18,600 Cr Increase in PBO 53,940 Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 99,200 55,800 57,00 $186,520 Cr S495,380 Cr $308,760 Dr LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare the journal entry to record 2017 pension expense for Windsor Co. (If no entry Is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not Indent manually.) Date Account Titles and Explanation 2017 Debit Credit Determine the following for Windsor for 2017: (1) settlement rate used to measure the interest on the liability and (2) expected return on plan assets. (Round answers to O decimal places, eg, 15%) (1) Settlement Rate (2) Expected retum on assets Show Work is REQUIRED for this question: Open Show Work
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