Please answer all parts to all questions (:

15A. Which of the following statements is correct? THERE ARE MULTIPLE CORRECT ANSWERS (hint: exactly 4 correct answers)

1. Actual returns on pension assets is not an element of pension expense because these returns would create too much volatility in the amount reported for pension expense.
2. The PBGC is funded primarily with income tax revenues collected by the U.S. Treasury.
3. A and B.
4. Neither A nor B.
5. Unexpected actuarial gains and losses are amortized in the same year that the gains and losses are determined.
6. Once an unexpected actuarial gain or loss is amortized, it will continue to be amortized every year until the amount of the unexpected actuarial gain or loss is zero.
7. E and F.
8. Neither E nor F
9. The actual return on pension assets is reported on the pension trusts statement of changes in net assets.
10. When unexpected actuarial gains or losses are amortized, the amount that represents the corridor amount is not amortized.
11. I and J.
12. Neither I nor J.
13. The period used to amortize prior service cost does not include employees who began working for the company after the prior service cost amendment was passed.
14. A prior service cost amendment is accounted for as a change in accounting estimate.
15. M and N.
16. Neither M nor N

15B. Which of the following statements is correct? THERE ARE MULTIPLE CORRECT ANSWERS (hint: exactly 4 correct choices)

1. All assets in the pension trust are reported at fair value.
2. Debt investments in pension trusts are classified into trading, available for sale securities, and held to maturity classifications.
3. A and B.
4. Neither A nor B.
5. The actuary increases the discount (settlement) rate.
6. Employees worked this year.
7. E and F.
8. Neither E nor F.
9. The netting of the items that make up pension expense is permitted in several other areas of financial accounting.
10. ERISA guarantees pension payments from terminated defined benefit pension plans through a federally chartered corporation known as the PBGC.
11. I and J.
12. Neither I nor J
13. Under defined contribution pension plans, the employers expense is equal to the contributions it makes to 401-k plans.
14. When ERISA was passed into law in the mid 1970s, the act required employers to have defined benefit pension plans.
15. M and N.
16. Neither M nor N.

15C. Jordon Corporation obtained the following information from its actuary. All amounts given are as of January 1, 2021.

• Projected benefit obligation $1,500,000
• Fair value of pension assets 1,400,000
• Market-related value of plan assets 1,550,000
• Accumulated other comprehensive income: unexpected loss 245,000
• Accumulated other comprehensive income: prior service cost 64,000
• Average remaining service life of employees 8 years

What amount of the unexpected loss should be recognized as a part of pension expense for the year ended December 31, 2021?

A. $30,625.

B. $11,875.

C. $11,250.

D. $13,125.

E. $10,625.

F. $19,250.