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Larkspur Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017,...

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Accounting

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Larkspur Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $815.000 974.000 159,000 Cr 103,000 Dr. As a result of the operation of the plan during 2017 the following additional data areprovided by the actuary $91,000 58,000 Service cost Settlement rate, 6% Actual return on plan assets Amortization of prior service cost Expected return on plan assets Unexpected loss from change in projected benefit due to change in actuarial predictions Contributions Benefits paid retirees 31.000 55,000 70,000 117.000 86,000 Using the data above, compute pension expense for Larkspur Corp. for the year 2017 by preparing a pension worksheet. Prepare the journal entry for pension expense for 2017. (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 for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media

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