Question

Bonita Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $89,400 Contribution to the plan 105,700 Prior service cost amortization 10,800 Actual and expected return on plan assets 64,500 Benefits paid 40,200 Plan assets at January 1, 2017 640,200 Projected benefit obligation at January 1, 2017 710,100 Accumulated OCI (PSC) at January 1, 2017 152,200 Interest/discount (settlement) rate 10 %

Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.) BONITA COMPANY Pension Worksheet—2017. General Journal Entries Memo Record Items Annual Pension Expense Cash OCI Prior Service Cost Pension Asset/ Liability Projected Benefit Obligation Plan Assets

Answer 1

ANSWER Compute pension expense PosttiaulosS Sevia cost jnlaest cost (110100 X10%) 429 400 71, 010 Ex pecked Re+oon on pon ossels4500 64 500 10 300 Pension expense +0 lo6710

ension dosr r gheet inseos hng olbnces Shocing Dec 3, 2017 memo feogd Jounal enlues cas SatvieGASSe benFi Expense 0100 54620 $2700008) $71010 Cy Jon-1004 Servic cost e) I.B9000ру, inlelest oos 01009) o 800 (D9t of s comtgtibuhol 105 700D) 0,900 DR) 40900 (c) Tors nal enLu tol 2017 pec 31,2old ealana 52,200 Dec 31-201