Brooks Co. had pension plan assets and PBO of $150,000 on 1/1/24. Service cost for the year was $30,000. It contributed $28,000 during the year and paid benefits of $20,000. The interest rate was 10%. The actual return was $14,000. Compute pension expense. Show computations'

Harrison Forklift's pension expense includes a service cost of $12 million. Harrison began the year with a pension liability of $32 million (underfunded pension plan). 1. Interest cost, $8; expected return on assets, $6; amortization of net loss, $2. 2. Interest cost, $8; expected return on assets, $6; amortization of net gain, $2. 3. Interest cost, $8; expected return on assets, $6; amortization of net loss, $2; amortization of prior service cost, $3 million. Required: Prepare the appropriate general journal entries to record Harrison's pension expense in each of the above independent situations regarding the other (non-service cost) components of pension expense ($ in millions): (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).) Journal entry worksheet 1. Prepare the appropriate journal entry to record pension expense in situation 1 above. 2.…

Louie Company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report: ending PBO, $110,000; benefits paid to retirees, $10,000; interest cost, $8,000. The discount rate applied by the actuary was 8%. What was the service cost for the year? O 2,000 12,000 O 18,000 O 92,000

Pension data for the Denver Company include the following for the current calendar year:Discount rate, 8%Expected return on plan assets, 10%Actual return on plan assets, 9%Service cost, $200,000January 1:PBO $1,400,000ABO 1,000,000Plan assets 1,500,000Amortization of prior service cost 20,000Amortization of net gain 4,000December 31:Cash contributions to pension fund $220,000Benefit payments to retirees 240,000a) Determine pension expense for the year.b) Prepare the journal entries to record pension expense and funding for the year.

The PBO was $100 million at the beginning of the year and $114 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pension-related OCI account. The actuary's discount rate was 5%. What was the amount of the service cost for the year? (Enter your answer in million, round to the nearest million, without dollar sign, ex. 123 or -123).

Smith, Inc. has a pension plan with the following data available for 20X1 and 20X2:     20X1 20X2 Service cost $ 30,000   $ 34,000   Interest cost $ 18,000   $ 20,000   Actual return on plan assets $ 15,000   $ 21,600   Beginning of year plan assets $ 200,000   $ 240,000   Discount rate   8 %   8 % Expected return on plan assets   8 %   8 %     The adjustment to OCI for gain or loss from the return on plan assets for 20X2 is:   Multiple Choice   $0.   $2,400 gain.   $2,400 loss.   unknown from information provided.

The projected benefit obligation was $400 million at the beginning of the year and $429 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $18 million and there were no pension-related other comprehensive income accounts. The actuary’s discount rate was 5%. What was the amount of the service cost for the year?

Subject: acounting

On January 1 of the current reporting year, Coda Company's projected benefit obligation was $29.3 million. During the year, pension benefits paid by the trustee were $3.3 million. Service cost was $9.3 million. Pension plan assets earned $4.3 million as expected. At the end of the year, there was no net gain or loss and no prior service cost. The actuary's discount rate was 10%. Required:Determine the amount of the projected benefit obligation at December 31. (Enter your answers in millions rounded to 2 decimal places. Amounts to be deducted should be indicated with a minus sign.)

The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. Service cost for the year was $10 million. At the end of the year, there were no pension-related other comprehensive income accounts. The actuary’s discount rate was 5%. What was the amount of the retiree benefits paid by the trustee?