Question: Please show all work to explain how you got the answer. Thank you kindly. Electronic Distribution has a defined benefit pension plan. Characteristics of the

Please show all work to explain how you got the answer. Thank you kindly.

Please show all work to explain how you got the answer. Thankyou kindly. Electronic Distribution has a defined benefit pension plan. Characteristics ofthe plan during 2018 are as follows: PBO balance, January 1 Planassets balance, January 1 Service cost Interest cost Gain from change inactuarial assumption Benefits paid Actual return on plan assets Contributions 2018 S520 258 95 65 34 17 85 The expected long-term rate ofreturn on plan assets was 8%. There were no AOCI balances related

to pensions on January 1, 2018. but at the end of 2018,

Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2018 are as follows: PBO balance, January 1 Plan assets balance, January 1 Service cost Interest cost Gain from change in actuarial assumption Benefits paid Actual return on plan assets Contributions 2018 S 520 258 95 65 34 17 85 The expected long-term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1, 2018. but at the end of 2018, the company amended the penslon formula creating a prior service cost of $17 mllion. (Enter your answers In millions(1.e., 10,000,000 should be entered as 10).) Requirec 1. Calculate the pension expense for 2018 2. Prepare the Journal entry to record pension expense, gains or losses, prior service cost, funding, and payment of benefits for 2018 3. What amount will Electronic Distribution report In its 2018 balance sheet as a net penslon asset or net penslon lablity? Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Calculate the pension expense for 2018 expense million Required 1 Required 2>

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