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The following facts apply to the pension plan of Ivanhoe Inc. for the year 2017. $537,100 537,100 Plan assets, January 1, 2017 Projected benefit obligation,
The following facts apply to the pension plan of Ivanhoe Inc. for the year 2017. $537,100 537,100 Plan assets, January 1, 2017 Projected benefit obligation, January 1, 2017 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees 8% 40,100 25,600 51,000 34,100 Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2017 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) IVANHOE INC. Pension Worksheet-2017 Annual Pension Expense Pension Asset/Projected Benefit Plan Assets Liability Obligation Items Balance, January 1, 2017 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 Balance, December 31, 2017 Cash
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