Donnie Harpin was recently promoted to assistant controller of Glomski Corporation, having previously served the company as a staff accountant. Glomski is a medium-sized company that reports under private enterprise standards. One of Harpin€™s new responsibilities is to prepare the annual pension accrual. Judy Gralapp, the corporate controller, provided Harpin with last year€™s working papers and information from the actuary€™s annual report. The pension work sheet for the prior year is as follows:

The actuary€™s report for the year ended May 31, 2012, indicated no actuarial gains or losses in the fiscal year ended May 31, 2012. Other pertinent information from the report is as follows:

Instructions
(a) Prepare the pension work sheet for Glomski Corporation for the year ended May 31, 2012.
(b) Prepare the necessary journal entries to reflect the accounting for Glomski Corporation€™s pension plan for the year ended May 31, 2012.

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General Journal Entries Memo Records Accrued Accrued Benefit Unrecognized Past Service Cost Pension Plan Assets Pension Expense Cash Asset/Liability Obligation $(20,000) (1,800) (1,200) June 1, 20101 Service cost1 Interest Actual return Contribution Benefits paidl Past service cost4 Journal entries $20,000 $1,800 1,200 (1,600) 1,600 1,000 (900) $(1,000) 900 (2,000) $2,000 $1,400 ($1,400) 1,000 事 (400) $(1,000) May 31, 2011 balance ($24,100) $21,700 $2,000 Contribution Service cost Discount rate Expected return Average period to full eligibility $425 $3,000 6% 8% 8 years Actual return on plan assets Benefits paid Average remaining service life $1,736 $500 10 years