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The following defined pension data of Crane Corp. apply to the year 2017. $568,000 553,400 14,600 Projected benefit obligation, 1/1/17 (before amendment) Plan assets, 1/1/17
The following defined pension data of Crane Corp. apply to the year 2017. $568,000 553,400 14,600 Projected benefit obligation, 1/1/17 (before amendment) Plan assets, 1/1/17 Pension liability On January 1, 2017, Crane Corp., through plan amendment, 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 130,000 10 % 58,500 64,300 47,100 36,300 17,400 For 2017, prepare a pension worksheet for Crane Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter all amounts as positive.) CRANE CORP. Pension Worksheet-2017 General Journal Entries Memo Record Plan Pension Asset/ Liability Annual Pension Expense Items OCI-Prior Service Cost Cash Projected Benefit Obligation Assets Balance, Dec. 31, 2016 $ CRANE CORP. Pension Worksheet-2017 General Journal Entries Memo Record Annual Pension Expense Items Pension Asset/ Liability OCI-Prior Service Cost Projected Benefit Obligation Plan Assets Cash 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
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