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Help Save &Exit Subr Check my wor Actuary and trustee reports indicate the following changes in the PB0 and plan assets of Lakeside Cable during 2018: Prior service cost at Jan. 1, 2018, from plan anendment at the 7 beginning of 2016 (amortization: $6 million per year) Net loss-pensions at Jan.l, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuarys discount rate $40 million $58 million 10 years 108 $ in millions) Plan $200 18 РВО Assets Beginning of 2018 Service cost Interest cost, 10% Loss (gain) on PBO Less: Retiree benefits End of 2018 $380 Beginning of 2018 56 Return on plan assets 38 9.08(10% expected) (2) Cash contributions 64 (42) Less: Retiree benefits $430 End of 2018 (42) $240 Problem 17-16 Part 6 6. Using T-accounts, determine the balances at December 31, 2019, in the net loss-AOCI and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5)) Net L Ral lan 1 Prey17 18 of 20 Next>
Check my work Problem 17-16 Part 6 of 7 6. Using T-accounts, determine the balances at December 31, 2019, in the net loss-AOCI and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e. 5,500,000 should be entered as 5.5)) Net Loss-AOCI Bal. Jan. 1 New gain Amortized in 2019 ew loss nces Bal. Dec. 31 Prior Service Cost-AOCI Bal. Jan.1 Amortized in 2019 Bal. Dec. 31 Prex17 18 of 20Next>
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sheet Pension Work Negative sign indicates Credits Positive Sign Indicates Debits 2019 General Journal Entries Memo Record Credits OCI-Prior Annual Pension Expense Pr OCI Gain Loss Items Cash Cost AssetLiability Obligation Plan assets (180) Cr Balance, Jan. 1, 2019 Service cost Interest cost (settlement rate PBOx 10% Actual Return Unexpected Loss (gain) Past sevice cost Amortization of net gain or losS-AOCI Contributions Benefits Decreaseincrease in PBO-(actuarial gain) Journal entry for 2019 Accumulated OCI, 1 Jan 19 Balance Dec. 2019 380) 200 Dr 56 Dr 38 Dr 18) Cr (2) Cr. 4 Dr 2 Dr (56) Cr 38) Cr 18 Dr 2 Dr Cr Cr. 64 Dr 42) Cr 42 Dr 2 Dr 2) Cr (2) Cr 68 Dr 56 Dr 80 Dr (64) Cr (4) Cr 40 Dr 36 Dr (10) Dr (190) Dr 430) Cr 240 Dr Corridor amortization Projected Benefit Year Plan assets | Corridor @10 % Years Minimum amortization i gain or Loss Un nized Gain or los5 of 2019 380 200 38 58 2 Gain 10Net Loss AOCI Bal Jan 1 New Loss 58 2 2 Actuarial gain Amortization of net gain or loss-AOCl in 2 2019 Bal 31 56 Past Service COST AOCI Bal Jan 1 40 Amortization of Past 4 Service Cost in 2019 Bal 31 36

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