Business, 22.04.2021 21:10, lportis4898

The following defined pension data of Novak Corp. apply to the year 2017 Projected benefit obligation, 1/1/17 (before amendment) 569000
Plan assets, 1/1/17 553900
Pension liability On January 1, 2017, 15,100
Novak Corp., through plan amendment, 121,000
grants prior service benefits having a present value of
Settlement rate 8%
Service cost 63400
Contributions (funding) 62400
Actual (expected) return on plan assets 52,700
Benefits paid to retirees 38,400
Prior service cost amortization for 2017 16,200
For 2017, prepare a pension worksheet for Novak Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts (Enter all amounts as positive.)

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The following defined pension data of Novak Corp. apply to the year 2017 Projected benefit obligat...