The following defined pension data of Rydell Corp. apply to the year 2025.

Instructions

For 2025, prepare a pension worksheet for Rydell that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

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Projected benefit obligation, 1/1/25 (before amendment) Plan assets, 1/1/25 Pension liability, 1/1/25 On January 1, 2025, Rydell Corp., through plan amendment, grants prior service benefits having this present value Settlement rate Service cost Contributions (funding) Actual (expected) return on plan assets Benefits paid to retirees Prior service cost amortization for 2025 $560,000 546,200 13,800 120,000 9% 58,000 65,000 52,280 40,000 17,000