Actuary and trustee reports for 2018 indicate the following changes in the PBO and plan assets of Seneca Corporation Prior service cost at January 1, 2018, from plan amendment at the beginning of 2016 (amortization $8 million per year) $64 million Net loss pensions at January 1, 2018 (previous losses exceeded previous gains $80 million Average remaining service life of the active employee group 10 years Actuary's discount rate 8 1 Determine Seneca's pension expense for 2018 and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees 2 Determine the new gains and or losses in 2018 and prepare the appropriate journal entry to record them 3 What amount will Seneca report in its 2018 balance sheet Will a net pension asset or net pension liability be reported Actuary and trustee reports for 2018 indicate the following changes in the PBO and plan assets of Seneca Corporation Prior service cost at January 1,2018 , from plan amendment at the beginning of 2016 (amortization $8 million per year) $64 million Net loss pensions at January 1, 2018 (previous losses exceeded previous gains $80 million Average remaining service life of the active employee group 10 years Actuary's discount rate 8 1 Determine Seneca's pension expense for 2018 and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees 2 Determine the new gains and or losses in 2018 and prepare the appropriate journal entry to record them 3 What amount will Seneca report in its 2018 balance sheet Will a net pension asset or net pension liability be reported

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Actuary and trustee reports for 2018 indicate the following changes in the PBO and plan assets of Seneca Corporation Prior service cost at January 1, 2018, from plan amendment at the beginning of 2016 (amortization   $8 million per year) $64 million Net loss   pensions at January 1, 2018 (previous losses exceeded previous gains $80 million Average remaining service life of the active employee group 10 years Actuary's discount rate 8  1  Determine Seneca's pension expense for 2018 and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees  2  Determine the new gains and or losses in 2018 and prepare the appropriate journal entry to record them  3  What amount will Seneca report in its 2018 balance sheet  Will a net pension asset or net pension liability be reported  Actuary and trustee reports for 2018 indicate the following changes in the PBO and plan assets of Seneca Corporation Prior service cost at January 1,2018 , from plan amendment at the beginning of 2016 (amortization   $8 million per year)  $64 million Net loss   pensions at January 1, 2018 (previous losses exceeded previous gains $80 million Average remaining service life of the active employee group 10 years Actuary's discount rate 8  1  Determine Seneca's pension expense for 2018 and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees  2  Determine the new gains and or losses in 2018 and prepare the appropriate journal entry to record them  3  What amount will Seneca report in its 2018 balance sheet  Will a net pension asset or net pension liability be reported

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Actuary and trustee reports for 2018 indicate the following changes in the PBO and plan assets of Seneca Corporation Prior service cost at January 1,

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