a) Determine the pension expense to be reported on the income statement for 2018.
b) Prepare the journal entries to record pension expense for 2018.
Presented below is information related to the pension plan of Zimmer Inc. for the year 2018 1. The service cost related to person pense is $239,000 using the projected benefits approach 2. The projected benefit obligation and the mulated benefit obligation at the beginning of the year we $310000 and $278.000, respectively. The expected return on planets is and the settlement rate is 10% 3 The accurated al-prior service cost the beginning of the year is $139,000. The cow has a workforce of 100 employees who are expected to receive benefits under the plan. The total number of service years is 90 and the service years attributable to 2018 is 198. The company has decided to use the years of service method of amortization for these cos. 4 All the beginning of the period the fair value of person plans was $27.000. The company had an Accurated Oil) the beginning of the period of $9.000. Anymortization of unrecognized net loss is recognised on a straight line banks over the average remaining service of the employees 5 The contribution to the pension and in 2018 was $220.000 Presented belowisinformation related to the pension plan of Zimmer Inc. for the year 2018 1 The corelated to propensis 239.000 uning the procedents reach 2. The precedent ation and the accurated benchtoption at the begin of the year 19.000 and 27.000 respectively. The expected return on plant s and the settlement rate is 10% 3 The a ted OCI-prior service cost at the beginning of the year 139.000. The company has a work of 19 muore all who are expected to receive benchts under the plan. The total number of service years and the service pentru leto 201611. The company has decided to use the year of service method of motion to these costs 4At the beginning of the period the air value of pension plans was $278.000. The company had an Accumulated Coult the beginning of the period of $69.000 A r tion of unrecognized met loss is recognised on a straight line basis over the average remaining service of the employees The contribution made to the pension fundin 2016 Was 2.000 Presented below is information related to the pension plan of Zimmer Inc. for the year 2018 1. The service cost related to person pense is $239,000 using the projected benefits approach 2. The projected benefit obligation and the mulated benefit obligation at the beginning of the year we $310000 and $278.000, respectively. The expected return on planets is and the settlement rate is 10% 3 The accurated al-prior service cost the beginning of the year is $139,000. The cow has a workforce of 100 employees who are expected to receive benefits under the plan. The total number of service years is 90 and the service years attributable to 2018 is 198. The company has decided to use the years of service method of amortization for these cos. 4 All the beginning of the period the fair value of person plans was $27.000. The company had an Accurated Oil) the beginning of the period of $9.000. Anymortization of unrecognized net loss is recognised on a straight line banks over the average remaining service of the employees 5 The contribution to the pension and in 2018 was $220.000 Presented belowisinformation related to the pension plan of Zimmer Inc. for the year 2018 1 The corelated to propensis 239.000 uning the procedents reach 2. The precedent ation and the accurated benchtoption at the begin of the year 19.000 and 27.000 respectively. The expected return on plant s and the settlement rate is 10% 3 The a ted OCI-prior service cost at the beginning of the year 139.000. The company has a work of 19 muore all who are expected to receive benchts under the plan. The total number of service years and the service pentru leto 201611. The company has decided to use the year of service method of motion to these costs 4At the beginning of the period the air value of pension plans was $278.000. The company had an Accumulated Coult the beginning of the period of $69.000 A r tion of unrecognized met loss is recognised on a straight line basis over the average remaining service of the employees The contribution made to the pension fundin 2016 Was 2.000
