The following defined pension data of Yang Corp. apply to the year 2015

(amounts in thousands).

Instructions For 2015, prepare a pension worksheet for Yang Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts.

Transcribed Image Text:

Defined benefit obligation, 1/1/15 (before amendment) Plan assets, 1/1/15 Pension liability On January 1, 2015, Yang Corp., through plan amendment, grants past service benefits having a present value of Discount (interest) rate Service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees 560,000 546,200 13,800 120,000 9% 58,000 65,000 49,158 40,000