Turner Inc. provides a defined benefit pension plan to its employees. The company has 150employees. The remaining amortization period at December 31, 2016, for prior service cost is 5 years. The average remaining service life of employees is 11 years at January 1, 2017, and 10 years at December 31, 2017. The AOCI?net actuarial (gain) loss was zero at December 31, 2016. Turner smooths recognition of its gains and losses when computing its market-related value to compute expected return.

Additional Information:

December 31,Description20172016PBO$1,450,000$1,377,000ABO1,425,0001,350,000Fair value of plan assets1,395,0001,085,000Market-related value of plan assets (smoothed recognition)1,369,0001,085,000AOCI?prior service cost?292,000Balance sheet pension asset (liability)?(292,000)Service cost117,400Contribution169,000PBO actuarial gain113,250Benefit payments madeNoneNoneDiscount rate5%5%Expected rate of return7%7%

Required:

1. Compute the amount of prior service cost that would be amortized as a component of pension expense for 2017 and 2018.
2. Compute the actual return on plan assets for 2017.
3. Compute the unexpected net gain or loss on plan assets for 2017.
4. Compute pension expense for 2017.
5. Prepare the company's required pension journal entries for 2017.
6. Compute the 2017 increase/decrease in AOCI?net actuarial (gain) loss and the amount to be amortized in 2017 and 2018.
7. Confirm that the pension asset (liability) on the balance sheet equals the funded status as of December 31, 2017.

Complete this question by entering your answers in the tabs below. ' Req 1 to 4 Req 5 Req 6 Req 7 1. Compute the amount of prior service cost that would be amortized as a component of pension expense for 2017 and 2018. 2. Compute the actual return on plan assets for 2017. 3. Compute the unexpected net gain or loss on plan assets for 2017. 4. Compute pension expense for 2017. Show IessA 2. Actual return on plan assets for 2017 Pension expense for 2017 1. Prior service cost amortization for 2017 Prior service cost amortization for 2018 Complete this question by entering your answers in the tabs below. Req 1 to 4 Req 5 Req 6 Req 7 Prepare the company's required pension journal entries for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Prepare the entry to record the rst three components of pension expense. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Req 1 to 4 Req 5 Req 6 Req 7 Compute the 2017 increase/decrease in AOCInet actuarial (gain) loss and the amount to be amortized in 2017 and 2018. (Input all values as positive amounts. Leave no cells blank - be certain to enter "0" wherever required.) Amount to be amortized in 201T Amount to be amortized in 2018 Complete this question by entering your answers in the tabs below. Confirm that the pension asset (liability) on the balance sheet equals the funded status as of December 31, 2017 by completing the worksheet below. (PBO, net pension liabilities, losses and expenses should be indicated by a minus sign.) 39 _ _ ( Req6 Complete this question by entering your answers in the tabs below. Req 1 to 4 Req 5 H Req 6 Req 7 Prepare the company's required pension journal entries for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Prepare the entry to record the amortization of prior service cost. Note: Enter debits before credits. Record entry Clear entry View general journal Req 1 to 4 Req 5 Req 6 Req 7 Prepare the company's required pension journal entries for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Prepare the entry to record the contribution to the pension fund. Note: Enter debits before credits. Record entry Clear entry View general journal Req 1 to 4 Req 5 Req 6 Req 7 Prepare the company's required pension journal entries for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Prepare the entry to record the unexpected gain or loss on plan assets. Note: Enter debits before credits. Record entry Clear entry View general journal Journal entry worksheet Prepare the entry to record the actuarial gain or loss on PBO. Note: Enter debits before credits. Record entry m View general journal