(17). Majid plc has the following portfolio of investments at September 30, 2019, its last reporting date. Trading Investments Hamid, Inc. ordinary (5,000 shares) Cost Fair Value $225,000 $200,000 Mahmood, Inc. preference (3,500 shares) 133,000 140,000 Osama Corp. ordinary (1,000 shares) 180,000 179,000 On October 10, 2019, the Hamid shares were sold at a price of $54 per share. In addition, 3,000 ordinary shares of Rafiq were acquired at $59.50 per share on November 2, 2019. The December 31, 2019, fair values were Mahmood $96,000, Rafiq $132,000, and Osama $193,000. All the investments are classified as trading. Instructions Prepare the journal entries to record the sale, purchase, and adjusting entries related to the trading investments in the last quarter of 2019. (5 marks) (18). Essa plc sponsors a defined benefit plan for its 100 employees. On January 1, 2019, the company's actuary provided the following information. Pension plan assets (fair value and market-related asset value) $200,000 Accumulated benefit obligation 150,000 Defined benefit obligation 350,000 The average remaining service period for the participating employees is 10.5 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 $52,000; the defined benefit obligation was $452,000, fair value of pension assets was $276,000, and the accumulated benefit obligation amounted to $365,000. The discount (interest) rate is 10%. The actual return on plan assets is $11,000. The company's current year's contribution to the pension plan amounted to $65,000. No benefits were paid during the year. Instructions (a). Determine the components of pension expense that the company would recognize in 2019. (2 marks) (b). Prepare the journal entry to record the pension expense and the company's funding of the pension plan in 2019. (1 mark) (c). Compute the amount of the 2019 increase/decrease in gains or losses. (1 mark) (d). Indicate the pension amounts reported in the financial statement as of December 31, 2019. (1 mark)