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Problem 20-2 Culver Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances plan assets $201.800;
Problem 20-2 Culver Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances plan assets $201.800; projected benefit obligation $254.000. Other data relating to 3 years' operation of the plan are as follows 2016 2017 2018 Annual service cost $16,100 $18,900 $26,500 Settlement rate and expected rate of return 10 10 % 10% Actual return on plan assets 17.900 22.150 24,400 Annual funding (contributions) 16,100 39,900 48,600 Benefits paid 14,300 16.000 21.000 Prior service cost (plan amended, 1/1/17) 159,700 Amortization of prior service cost 54.800 41,700 Change in actuarial assumptions establishes a December 31, 2018, projected benefit obligation of 520,300 Prepare pension worksheet presenting all 3 years' pension balances and activities. (Enter all amounts as positive) Prepare a pension worksheet presenting year pension balans and all aspi) CULVER COMPANY Pension Worksheet-2016, 2017, 2015 Anal Pens cash OC-Pro Service Cost OC-Gain Las Memo Record Projected Benefit Olgation Pension All Liability Balance, Jan. 1. 2016 Plan Assets Service v Tereto V Unexpected to Contribution v v > Jumal try for 2016 And I, 2013 Bano Dec. 11. 2016 Additional PSC, 1/1/2017 v Balance, Jan. 1. 2017 V v v Service V Tresco v > > al return > > Benefits > > v Journal entry for 2017 Acumule OCI. Dec.31. 2016 Balance. Del 11. 2017 Anne > > > > > > > > >
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