Question: how do I approach this? Blackstone, Inc, has a defined benefit pension plan for its 350 employees. The company's actuary provided the following information for

how do I approach this?
Blackstone, Inc, has a defined benefit pension plan for its 350 employees. The company's actuary provided the following information for January 1, 2019: $240,000 450,000 480,000 520,000 Accumulated other comprehensive income (loss) (PSC) Pension plan assets (fair value and market-related asset value) Accumulated benefit obligation Projected benefit obligation The average remaining service period for the participating employees is 6 years. All employees are expected to receive benefits under the plan. On December 31, 2019, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $62,000, the projected benefit obligation was $620,000; fair value of pension assets was $515,000; the accumulated benefit obligation amounted to $520,000. The expected return on plan assets and the discount rate on the projected benefit obligation were both 6%. The actual return on plan assets is $15,000. The company's current year's contribution to the pension plan amounted to $50,000. No benefits were paid during the year (a) Determine the components of pension expense that the company would recognize in 2019 (b) Prepare the journal entry to record the pension expense and the company's funding of the pension plan in 2019 (c) Compute the amount of the 2019 increase/decrease in gains or losses and the amount to be amortized in 2019 and 2020
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