I need help ASAP Please. Thank you in Advance :) The following...
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I need help ASAP Please. Thank you in Advance :)
The following defined pension data of Kingbird 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, Kingbird Corp., through plan amendment, $574,000 561,200 12,800 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 111,000 9% 57,200 65,100 52,900 39,200 18,300 For 2017, prepare a pension worksheet for Kingbird Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. (Enter al amounts as positive.) KINGBIRD CORP Pension Worksheet-2017 Annual Pension Expense OCI-Prior Service Cost Pension Asset/ Liability Projected Benefit Obligation Plan Assets Items Balance, Dec. 31, 2016 Prior service cost Balance, Jan. 1, 2017 Service cost Interest cost Actual return Amortization of PSC Contributions Benefits Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Click if you would like to Show Work for this question: Cash
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