Question

File Home Insert Draw P age Layout Formulas Data Review View Help == Times New Roman BIU 11 AA - OA Wrap Text Merge & Center - Paste General $ - % E - Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles Clipboard Font Alignment Number Cells 178 A ALBIC I DE FIGHT 64 Sapphire Distribution has a defined benefit pension plan. Pension information concerning the fiscal years 2019 and 2020 are presented below ($ in millions) in '000s) $ 1,925 Information provided by Pension Plan Actuary: a. Projected benefit obligation at Dec 31, 2018 b. Prior service cost from plan amendment on January 1, 2019 (straight-line amortization for 10-year average remaining service period.) c. Service cost for 2019 320 575 630 8% 465 d. Service cost for 2020 e. Discount rate used by actuary on projected benefit obligation for 2019 & 2020 f. Payments to retirees in 2019 g. Payments to retirees in 2020 h. There were no changes in actuarial assumptions or estimates in either year. i. Balance in the net gain -- AOCI account on January 1, 2019 j. Net gains and losses are amortized for 10 years beginning in 2019 480 255 Sheet1 Sheets + Ready O Type here to search hp

Answer 1

1. C all the provine Espeme in the following m er: (5175 (532.0) Description Svi Law Cost (8% 52,270) Hagen 16 XS1 753) Amortization of prior service cost 20+ years) Amulebemouc P in wapen for 2019 Suvel In Cost $2.552 Expected return on planets $2.065) Amortization of prior service cost 5320 + Y ) Animal Pesnina espase for 2020 11 (532.0) 503636 $896 Therefore, the pension expense for 2019 and 2020 Is 5544 and 396 respect Plan Autos 1.212 is the 2. Ce the PRO ning 5320 $2,270 S182 PRO Balmace. J er OL. 2019 A+ Pr ice cast Balance, January 02, 2010 Serce cast Laterest Cast ( 52 270 Less Beats paid Balance, December 31, 2019 Ad Service cost he Cost 86 52 962) Los Deactis paid Ralmen, Derman 1, 2020 (5465 5294 15400 Buy 01, 2019 ALC : Add Actual com o plan asset S260 Balance, December 31, 2019 Al Club Add Audruples Less: Denis paid Balance, December 31, 2020 $2.573 3. Prepare the journal airles for 2019 and 2020 le record pension expense in the Belowing m er Credit Date 2019 P De $411 Title Explanatio une Plassets expected RS550 A. AOC Proiected beneat obligation PDO) S6 பாமாpைrar #wr=rnaOCT To record per De 5207 2020 akseen Plaastets expected return 52069) Amnistian of rain AOC Proiected besedit o tion PDO) Service Cut- OC S 32 Ana 1.To record de pelvion De

run any zains und es mil 4. Preihe jurnal clrics Fur 2019 and 2020 Brw prior service cusi, in the following manner: Date Debit Credit Account Title and Explanation Loss OCI 2019 Acurau Explicia en la esc lis120 - 129 SI 4001 Plaz assets Tarand carri 2019 Price service cos: OCI Prorected beat um PBU) Tour PCX GLI menganasse -S16 LOCI 2020 Achsen- 1345. 0 $2065:1 Plas assets Prepare the journalinius for 2019 od 2030 to record the cash contribalion plas asses and bene pa to retirees, is the following manner: Title and Emplos Deco Credor Date 19 Flat 30 Projected bene oblasti P20 Tordet Cact To record the contribuisce $180 Projected bandit obligation P2O) Plan assets Forward ha a chy $480