(a) Prepare a pension worksheet for the pension plan for 2014 and 2015

(b) For 2015, prepare the journal entry to record pension-related amounts.

Account titles and Explanation	Debit	Credit

Problem 20-1 (Part Level Submission) On January 1, 2014, Harrington Company has the following defined benefit pension plan balances Projected benefit obligation Fair value of plan assets $4,506,000 4,211,100 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2015, the company amends its pension agreement so that prior service costs of $516,900 are created ther data related to the pension plan are as follows: 2015 $192,100 99,200 294,500 290,200 280,500 2014 $165,000 Service cost Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 252,500 203,900 252,666 6% 8%