a

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2018: Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2015 (amortization: $4 million per year) Net loss-AOCI at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $12 million $98 million 10 years 3 ($ in millions) Plan Assets PBO Beginning of 2018 Return on plan assets, 43 (6 expected) Beginning of 2018 S 660 460 Service cost 56 18.4 Interest cost, 38 Loss (qain) on PBO 19.8 (12) (33) Cash contributions 99 (33) Less: Retiree benefits Less: Retiree benefits $690.8 $544.4 End of 2018 End of 2018 Determine Douglas-Roberts' pension expense for 2018, (Amounts to be deducted should be indicated with a minus sign, Enter your answers in millions rounded to 1 decimal place (i.e, 5,500,000 should be entered as 5.5).) Pension Expense Amortization of net loss Amortization of prior service cost Service cost Interest cost Expected return on assets Pension expense 0.0 Prepare the appropriate journal entries to record the pension expense, to record any 2018 gains and losses, to record the cash contribution to plan assets and to record retiree benefits. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Show less A View transaction list View journal entry worksheet ... General Journal No Event Debit Credit Pension expense Plan assets Amortization of net loss-OCI Amortization of prior service cost-OCI Loss-OCI 2 Plan assets 3 3 PBO Gain-OCI 4 4. Plan assets Cash 5 5 PRO Plan assets LO Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2018, Lacy received the following information ($ in millions) Projected Benefit obligation Balance, January 1 $ 480 Service cost 72 Prior service cost Interest cost (5.0%) Benefits paid 24 24 (67) $533 Balance, December 31 Plan Assets ($ in millions Balance, January 1 Actual return on plan assets $ 350 36 Contributions 2018 72 Benefits paid (67) $391 Balance, December 31 The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1, 2018. At the end of 2018, Lacy amended the pension formula creating a prior service cost of $24 million. Determine Lacy's pension expense for 2018. Pension expense million Prepare the journal entry(s) to record Lacy's pension expense, gains or losses, prior service cost, funding, and payment of retiree benefits for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) No Event General Journal Debit Credit Pension expense 1 1 Plan assets 2 2 Plan assets Gain-OCI 3 Prior service cost-OCI PBO Plan assets 4 4 Cash 5 5 Plan assets The following data are available pertaining to Household Appliance Company's retiree health care plan for 2018: Number of employees covered Years employed as of January 1, 2018 Attribution period Expected postretirement benefit obligation, Jan Expected postretirement benefit obligation, Dec. 31 3 3 [each] 25 years 1 $66,000 $69,000 Interest rate 5% Funding What is the accumulated postretirement benefit obligation at the beginning of 2018? What is interest cost to be included in 2018 postretirement benefit expense? What is service cost to be included in 2018 postretirement benefit expense? Accumulated postretirement benefit obligation 2. Interest cost 3. Service cost Prepare the journal entry to record the postretirement benefit expense for 2018. (If no entry is required for a particular event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 Postretirement benefit expense