Question: A company has a noncoritributory, defined benefit pension plan. At December 31 of the current year, the company received the following information The expected long-term

 A company has a noncoritributory, defined benefit pension plan. At December
31 of the current year, the company received the following information The
expected long-term rate of return an plan assets was 10%. There were
no AOCI balances related to pensiont on January 1 of the current

A company has a noncoritributory, defined benefit pension plan. At December 31 of the current year, the company received the following information The expected long-term rate of return an plan assets was 10%. There were no AOCI balances related to pensiont on January 1 of the current year At the end of the current year, the company amended the pension formula creating a prior service cost of $52 million. Required: 1. Determine the company's pension expense for the current year 2. Prepare the journal entry(s) to record the company's (a) pension expense, (b) gains or losses. (c) prior service cast, (d) funding. and (e) payment of retiree benefits for the current year Complete this question by entering vour answers in the tabs below. 1. Determine the company's pension expense for the current year 2. Prepare the joumal entry(s) to record the company's (a) pension expense, (b) gains or losses. (c) prior service cost, (d) funding. and (el payment of retiree benefits for the current yeat. Complete this question by entering your answers in the tabs below. Determine the company's persion expense for the current yeor. be entered as 10) Prepare the journal entry(s) to record the company's (a) pension expense, (b) gains or losses, (c) prior aervice cost, (d) funding, and (e) payment of retiree benefits for the current year. millions. (Ce, 10,000,000 should be entered as 10). Show less (1) Record the pension expense. (2) Record the gain or loss on plan assets. (3) Record the prior service cost. (4) Record the funding. (5) Record the payment of retiree benefits. Note : = journal entry has been entered

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