Please solve these two problems. Find the problems attached.Thanks.

On January 1, 2011, Magee Corporation started doing business by hiring R. Walker as an employee at an annual salary of$50,000, withan annual salary increment of$10,000. Based on hi current age and the company's retirement program, Walker is r-equired to retire at the end of the year in 2014. However, at his or~ion, he could retire any time after completing one full year of service. Regardless of when he retires, the company will pay a lump-sum pension at the end of 2015. The lump-sum payment is calculated to be 25% of the cumulative lifetime salary Walker eXcel earned. Magee's annual discount rate is 10%. Assume that Walker retires at the end Of2S Required: mhhe.comlrevsine5e 1. Assuming that Magee Corporation does not fund its pension expense, calculate this expense for 2011- 20 14. Clearly identi the service and' te.r:esLcnstcom onents. Based ~ ourcalcula..!,ions, provi e journal entries to record the effects of pensions during 2011-2015. 2. Assume that Magee fully funds its pe,!1sion c.9.!J!.....Soonit YeS . rand that the.contribuas tions to t e pension fund earn exactly a 10% rate of return annually. Based on these revised assumptiOns, redo requirement 1. r- 3. Explain why the total pension expense in requirement 1 and in requirement 2 differ. ) 4. ssume at agee oes not fun 'Its pension expense. DisCUSs nm- different=tsti"mptions -regarLtmg the discount rate affectthd ie~sion expense. Co re the pension expe~s~~th discount rates of 5%, 10%, and 15%.) -- Use the same set of facts as in P 14-7. In addition, assume dE:: . Corporation must contribute the following amounts to ~ Contributions ~ ($11,000 Magee intends to fund the pension plan only~ertFT:7 that the contributions to the pension fund earn exactly a ~L =- Required: 1. The CEO of the company, Reece Magee, is con ide' 10%, and 12%) f~culating how much pension e 2011-2015 period. 2. Providesc 12eriod.) -edU: the annual e' eXcel ,.-_~"'" mhhe.comirevsine5e -=--'" P(}B.Slon-~..o: _-_~:::?'-;i'~ 3. Magee--i~mdering ( %, be reRorted under ------- es showing the funded status of the pelR1J::;J. ~~. - - .--