The given defined pension data of Rydell Corp. apply to the year 2012.
Projected benefit obligation, 1/1/12 (before amendment) $563,300
Plan assets, 1/1/12 544,300
Pension liability 19,000
On January 1, 2012, Rydell Corp., via plan amendment, grants prior service benefits encompassing a present value of 126,700
Settlement rate 10 %
Service cost 64,800
Contributions (funding) 69,300
Actual (expected) return on plan assets 59,900
Benefits paid to retirees 42,000 Prior service cost amortization for 2012 22,000
For 2012, make a pension worksheet for Rydell Corp. which shows the journal entry for pension expense and the year-end balances in the related pension accounts.