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 remining service life of the active employee group Actuary's discount rate 20 million $104 million 10 years 4 2 (s in millions) Plan Asset8 $ 520 Beginning of 2018 Service cost $ 720 Beginning of 2018 62 Return on plan assets, 5% (74 expected) 26.0 Interest cost, 4% Loss (gain) on PBO Less: Retiree benefits 28.8 (15) Cash contributions 102 3 6 $612.0 36 Less: Retiree benefits End of 2018 $759. End of 2018 Requirec 1-a. Determine Douglas-Roberts' pension expense for 2018. 1.b, 2. to 4. Prepare the approprlate 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. Complete this question by entering your answers in the tabs below 1AReq 1B and 2 to 4 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).) ension Pension expense 0.0 View transaction list Journal entry worksheet Record annual pension expense. Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal Req 1A Req 18 and 2 to 4 View transaction list Journal entry worksheet Record the change in plan assets. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the change in the PBO. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cash contribution to plan assets. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Req 1A Req 18 and 2 to 4 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 remining service life of the active employee group Actuary's discount rate 20 million $104 million 10 years 4 2 (s in millions) Plan Asset8 $ 520 Beginning of 2018 Service cost $ 720 Beginning of 2018 62 Return on plan assets, 5% (74 expected) 26.0 Interest cost, 4% Loss (gain) on PBO Less: Retiree benefits 28.8 (15) Cash contributions 102 3 6 $612.0 36 Less: Retiree benefits End of 2018 $759. End of 2018 Requirec 1-a. Determine Douglas-Roberts' pension expense for 2018. 1.b, 2. to 4. Prepare the approprlate 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. Complete this question by entering your answers in the tabs below 1AReq 1B and 2 to 4 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).) ension Pension expense 0.0 View transaction list Journal entry worksheet Record annual pension expense. Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal Req 1A Req 18 and 2 to 4 View transaction list Journal entry worksheet Record the change in plan assets. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the change in the PBO. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the cash contribution to plan assets. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Req 1A Req 18 and 2 to 4
