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Whispering Company provides the following information about its defined benefit pension plan for the year 2017. $90,900 Service cost Contribution to the plan Prior service
Whispering Company provides the following information about its defined benefit pension plan for the year 2017. $90,900 Service cost Contribution to the plan Prior service cost amortization Actual and expected return on plan assets Benefits paid Plan assets at January 1, 2017 Projected benefit obligation at January 1, 2017 Accumulated OCI (PSC) at January 1, 2017 Interest/discount (settlement) rate 103,000 9,300 63,200 39,800 648,600 706,600 148,800 10 % Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.) WHISPERING COMPANY Pension Worksheet-2017. General Journal Entries OCI Cash Prior Service Cost Annual Pension Expense Pension Asset/ Liability Memo Record Projected Benefit Plan Obligation Assets Items Balance, January 1, 2017 $ $ $ $ Service cost v v v Interest cost v Actual return v v v V v v v Amortization of PSC v Contributions w Benefits Journal entry for 2017 $ v $ Accumulated OCI, Dec. 31, 2016 V Balance, Dec. 31, 2017 Prepare the journal entry recording pension expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit
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