1. Use the spreadsheet Pensions to prepare a pension worksheet. On the pension worksheet, compute pension expense, pension asset/liability, projected benefit obligation, plan assets, prior service cost, and net gain or loss.
2. Prepare the journal entry using the spreadsheet Journal Entries to record pension expense in 2017.
3. Indicate the reporting of the 2017 pension amounts in the income statement and balance sheet using the spreadsheet Pensions.
4. What is the amount of deferred pension gain or loss that the company will carry forward to 2018?

Compute the same items as in (#1), assuming that the expected rate of return is 14% and the Accumulated OCI (Gain/Loss) is a Debit balance at January 1, 2017.

Scottsdale Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. $480,000 Plan assets Projected benefit obligation 625,000 Accumulated OCI (PSC) 100,000 Dr. 85,000 Cr Accumulated OCI (Gain/Loss) As a result of the operation of the plan during 2017, the following additional data are provided by the actuary: Service cost for 2017 $90,000 Settlement rate 9% Actual return on plan assets in 2017 57,000 Expected return on plan assets 10% Unexpected loss from change in projected benefit obligation, due to change in actuarial predictions 76,000 Contributions in 2017 99,000 Benefits paid retirees in 2017 85,000 Avg. remaining service life (all employees) 12 years Amount Amount Account Title Date Account Title Amount Amount Date Account Title Account Title Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Account Title Date Amount Amount Account Title Date Amount Amount Account Title Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Account Title Amount Amount Date Amount Amount Account Title Account Title Date Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Amount Amount Date Account Title Account Title Amount Account Title Date Amount Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Amount Date Amount Account Title Amount Date Amount Account Title Account Title Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Amount Amount Date Account Title Date Amount Amount Account Title Account Title Provide a one line explanation for the reason why the journal entry has been m Pension Liabilty Net Gains or (Loss) Pension Expense Pension Asset Projected Benefit Plan Assets Obligations Prior Service Cost Deferred Pension gain Income statement Balance Sheet or Loss Carried forwrd Reported Amount Reported Amount OCI OCI Balance, Jan. 1, 2017 Service cost Interest cost Actual Return Expected Return Amortization of PSC Contributions Benefits Liability increase Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Pension Expense Pension Liabilty Balance Sheet Reported Amount Pension Asset Projected Benefit Obligations Plan Assets Prior Service Cost Net Gains or (Loss) Deferred Pension gain Income statement or Loss Carried forwrd Reported Amount OCI OCI Balance, Jan. 1, 2017 Service cost Interest cost Actual Return Expected Return Amortization of PSC Contributions Benefits Liability increase Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Income Statement Balance Sheet Amounts Amounts Scottsdale Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. $480,000 Plan assets Projected benefit obligation 625,000 Accumulated OCI (PSC) 100,000 Dr. 85,000 Cr Accumulated OCI (Gain/Loss) As a result of the operation of the plan during 2017, the following additional data are provided by the actuary: Service cost for 2017 $90,000 Settlement rate 9% Actual return on plan assets in 2017 57,000 Expected return on plan assets 10% Unexpected loss from change in projected benefit obligation, due to change in actuarial predictions 76,000 Contributions in 2017 99,000 Benefits paid retirees in 2017 85,000 Avg. remaining service life (all employees) 12 years Amount Amount Account Title Date Account Title Amount Amount Date Account Title Account Title Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Account Title Date Amount Amount Account Title Date Amount Amount Account Title Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Account Title Amount Amount Date Amount Amount Account Title Account Title Date Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Amount Amount Date Account Title Account Title Amount Account Title Date Amount Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Amount Date Amount Account Title Amount Date Amount Account Title Account Title Provide a one line explanation for the reason why the journal entry has been r Provide a one line explanation for the reason why the journal entry has been r Account Title Amount Amount Date Account Title Date Amount Amount Account Title Account Title Provide a one line explanation for the reason why the journal entry has been m Pension Liabilty Net Gains or (Loss) Pension Expense Pension Asset Projected Benefit Plan Assets Obligations Prior Service Cost Deferred Pension gain Income statement Balance Sheet or Loss Carried forwrd Reported Amount Reported Amount OCI OCI Balance, Jan. 1, 2017 Service cost Interest cost Actual Return Expected Return Amortization of PSC Contributions Benefits Liability increase Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Pension Expense Pension Liabilty Balance Sheet Reported Amount Pension Asset Projected Benefit Obligations Plan Assets Prior Service Cost Net Gains or (Loss) Deferred Pension gain Income statement or Loss Carried forwrd Reported Amount OCI OCI Balance, Jan. 1, 2017 Service cost Interest cost Actual Return Expected Return Amortization of PSC Contributions Benefits Liability increase Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Income Statement Balance Sheet Amounts Amounts