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Riverbed Company provides the following information about its defined benefit pension plan for the year 2017....

Riverbed Company provides the following information about its defined benefit pension plan for the year 2017.

Service cost $89,800
Contribution to the plan 107,000
Prior service cost amortization 10,700
Actual and expected return on plan assets 65,200
Benefits paid 40,100
Plan assets at January 1, 2017 647,500
Projected benefit obligation at January 1, 2017 707,800
Accumulated OCI (PSC) at January 1, 2017 147,500
Interest/discount (settlement) rate 9 %

Prepare a pension worksheet inserting January 1, 2017, balances, showing December 31, 2017. (Enter all amounts as positive.)

RIVERBED 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


Prepare the journal entry recording pension expense. (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 0 for the amounts.

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ekkarill92 answered 1 month ago
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