Brief Exercise 17-13 (Algo) Recording pension expense [LO17-7] Major Medical reported a net loss-AOCI in last year's balance sheet. This year, the company revised its estimate of future salary levels causing its PBO estimate to decline by $7 million. Also, the $12 million actual return on plan assets fell short of the $14 million expected return. How does this gain and loss affect Major's income statement, statement of comprehensive income, and balance sheet? (Enter your answers in millions.) Income statement: Net income Comprehensive income statement: Gain-OCI Loss-OCI Balance sheet:

Penslon data for the Ben Franklin Company Include the following for the current calendar year: Discount rate, 10% Expected return on plan assets, 12% Actual return on plan assets, 11% Service cost, $300,000 January 1: PBO ABO Plan assets Amortization of prior service cost Amortization of net gain December 31: Cash contributions to pension fund Benefit payments to retirees $1,500,000 1,100,000 1,600,000 30,000 5,000 230,000 250,000 Required: 1. Determine pension expense for the year. 2. Prepare the journal entries to record pension expense and funding for the year.

Answer questions A,B, and C

QUESTION 6 At January 1 2017 Hennein Oompanyhad plan assets of $280 000 and a projected benefit aligation of the same amount During 2017 service cost was $27 500 and settlement rate was 10% actual and expected return on plan assets was $25 000 contribuutions were $20 000 and benefits paid were $17 500 How much was Hennien Company's Pension Expense?

QUESTION 7 At January 1. 2017 Hennein Companyhad plan assets of $280 000 and a projected benefit oligation of the same amount During 2017 service cost was $27,500 and settlement rate was 10% actual and expected return on plan assets was $25 000, contributions were $20 000 and benefits paid were $17 500 How much was Hennien Company's Pension/Asset Liability?

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16 Assume that at the beginning of the current year, a company has a net gain-AOCI of $60,100,000. At the same time, assume the PBO and the plan assets are $311,000,000 and $453.100.000, respectively. The average remaining service period for the employees expected to receive benefits is 10 years. What is the amount of amortization to pension expense for the year? Multiple Choice $1,479,000 $6,010,000 $14,210,000 $1476.000.