Using the same chart below, apply it to each question below.

1. Using the information below, what is the Pension Expense Meder Inc will record for 2016? (NOTE: the values in the table are in 000s of dollars).

A. $ 337,300

B. $ 345,000

C. $ 120,000

D. $ 490,000

E. $ 282,300

2. Based on the information provided (same table as Q13), what would you record to show the payment of pension benefits?

A. Debit Pension Benefit Obligation $120,000 and Credit Cash $120,000

B. Debit Plan Assets $120,000 and Credit Pension Benefit Obligation $120,000

C. Debit Pension Benefit Obligation $120,000 and Credit Plan Assets $120,000

D. Debit Pension Expense $120,000 and Credit Cash $120,000

E. Debit Cash $120,000 and Credit Plan Assets $120,000

3. Given the information (same as for Q 13 and Q14), what is the Net Gain or Loss on the Pension for 2016?

A. Gain of $55,000

B. Gain of $154,000

C. Loss of $55,000

D. Loss of $145,000

E. Not enough information to determine

Meder Inc. has a defined benefit pension plan. The following information is provided from the actuaries and plan trustees regarding pension transactions for the year ending 12/31/2016. Amounts in thousands Pension Plan Assets Beginning Balance $ 1,100 Projected Benefit Obligation Beginning Balance, $ 1,400 unadjusted Prior Service Cost 140 Service Cost 350 Discount rate 5% Actual return Contributions from Meder Inc. Expected Return 154 54 9% Additionally, we are informed that the $140,000 prior service cost came from an adjustment in the pension plan that was put into effect in 2016. For 2016, the Net Pension Loss had a beginning balance of $200,000. The Trustee also reports that pension payments totally $120,000 were made during 2016 and that the estimated remaining service time for employees in the pension plan is 20 years