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For 2017, prepare a pension worksheet that shows the J/Entry for pension expense and the...

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Accounting

For 2017, prepare a pension worksheet that shows the J/Entry for pension expense and the year-end balances in the related pension accounts image
The following defined pension data of Novak Corp. apply to the year 2017. Projected benefit obligation, 1/1/17 (before amendment) Plan assets, 1/1/17 Pension liability On January 1, 2017, Novak Corp., through plan amendment, $530,000 516,700 13,300 grants prior service benefits having a present value of Settlement rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2017 131,000 996 60,400 67,100 52,700 43,200 18,200 For 2017, prepare a pension worksheet for Novak Corp. that shows the journal entry for pension positive.) NOVAK CORP Pension Worksheet General Journal E ocI-Pr Annual Pension Expense Cash Service Items Balance, Dec. 31, 2016 Prior service cost Balance, Jan. 1, 2017 Service cost

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