Question

Check my 16 Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during Prior service cost at Jan. 1, 2018, from plan amendment Part 5 of 7 at the beginning of 2016 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $40 million $58 million 10 years 108 1.5 points ($ in millions) eBook Print References PBO Plan Beginning of 2018 Service cost Interest cost, 10 Loss (gain) on PBO Less: Retiree benefits $380 Beginning of 2018 $200 56 Return on plan assets 38 9.08 (108 expected) (2) Cash contributions (42) Less: Retiree benefits $430 End of 2018 64 42 $240 End of 2018 Problem 17-16 Part 5 5. Determine the new gains and/or losses in 2019 and prepare the appropriate journal entry(s) to record them. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)) 16 17 18 of 20 Next>

Answer 1