Ayayai Company provides the following information about its
defined benefit pension plan for the year 2017.
Service...
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Accounting
Ayayai Company provides the following information about itsdefined benefit pension plan for the year 2017.
Service cost
$91,200
Contribution to the plan
104,700
Prior service cost amortization
9,800
Actual and expected return on plan assets
62,800
Benefits paid
40,500
Plan assets at January 1, 2017
632,600
Projected benefit obligation at January 1, 2017
686,700
Accumulated OCI (PSC) at January 1, 2017
152,100
Interest/discount (settlement) rate
9
%
Requirements:
Using Excel prepare a pension worksheet inserting January 1,2017, balances, and then showing December 31, 2017. Prepare theworksheet in good form based on examples in chapter 20 and chapter20 exercises.
Prepare the journal entry to record pension expense.
Answer & Explanation
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Ayayai Company Pension Worksheet 2017 General Journal Entries Memo Record Items Annual Pension Expense Cash OCIPrior Service Cost Pension Asset Liability Projected Benefit
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