Problem 20-2

Crane Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $201,400; projected benefit obligation $245,000. Other data relating to 3 years operation of the plan are as follows.

		2016			2017			2018
Annual service cost		$15,800			$19,400			$26,100
Settlement rate and expected rate of return		10	%		10	%		10	%
Actual return on plan assets		18,000			22,150			24,000
Annual funding (contributions)		15,800			40,000			47,500
Benefits paid		13,700			16,500			20,800
Prior service cost (plan amended, 1/1/17)					160,000
Amortization of prior service cost					53,800			41,700
Change in actuarial assumptions establishes a December 31, 2018, projected benefit obligation of:								522,200

Prepare a pension worksheet presenting all 3 years pension balances and activities