United Airlines reported the following (in millions): • Service cost = $520 • Interest on P. B. O. = $910 = $700 • Return on plan assets • Amortization of prior service cost • Amortization of net loss = $140 = $22 Compute United Airlines' pension expense.

AMR Corporation (parent company of American Airlines) reported the following (in millions). Service cost Interest on P.B.O. $368 739 Return on plan assets 595 Amortization of prior service cost 15 Amortization of net loss 156 Compute AMR's pension expense. (Enter amount in dollars, e.g. 55,000,000.) Pension expense

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expert of general accounting answer

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The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. ($ in millions) Debit(Credit) PBO Plan Assets Prior Service Cost Net (Gain)/Loss Pension Expense Cash Net Pension (Liability)/Asset Beginning balance   450 60 55     50 Service cost (85)             Interest cost (25)             Expected return on assets   55           Gain/loss on assets       3       Amortization of:               Prior service cost               Net gain/loss       (1)       Loss on PBO (65)             Contributions to fund   40           Retiree benefits paid               Ending balance (530)   54 122       What were the retiree benefits paid?

Kk.5

The Shasti Corporation reported the following for the year ending December 31, 20X1:   Service cost: $142,610 Plan assets, January 1, 20X1: $1,200,000 Prior service cost amortization: $21,150 Expected return on plan assets: 9% Actual return on plan assets: 8.5% Pension expense: $175,760 Actuarially determined discount rate: 8%   What was the projected benefit obligation on January 1, 20X1?   Multiple Choice   $1,500,000   $1,425,000   $1,200,000   $1,333,333

2 ($ in thousands) Discount rate, 7% Expected return on plan assets, 8% Actual return on plan assets, 7% Service cost, current year January 1, current year: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value)" Prior service cost- AOCI (current year amortization, $30) Net gain- AOCI (current year amortization, $12) There were no changes in actuarial assumptions. December 31, current year: Cash contributions to pension fund, December 31, current year Benefit payments to retirees, December 31, current year Required: 1. Determine pension expense for the current year. $ 500 3,250 2,950 3,350 420 520 435 460 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine pension expense for the current year. Note: Amounts to be deducted should be indicated with a minus sign.…

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