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Attached please find my questions. Thank you! 1. Look Ahead Co. has a defined benefit pension plan that was put into place five years ago.

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Attached please find my questions.

Thank you!

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1. Look Ahead Co. has a defined benefit pension plan that was put into place five years ago. Specific balances and assumptions as of December 31, 2019 are shown in the table below. The expected return on plan assets was 12%. PBO, 1/1/2019 4, 100,000 Service costs 954,000 Interest costs (6%) 246,000 Payments to retirees (1,000,000) PBO, 12/31/2019 4,300,000 Plan assets, 1/1/2019 4,000,000 Actual return 450,000 Cash contribution 800,000 Payments to retirees (1,000,000) Plan assets, 12/31/2019 4,250,000 a) Calculate pension expense for 2019 b) Prepare all the necessary journal entries at the end of 12/31/2019 DEBIT CREDIT c) What is the balance in the Prepaid/Accrued Pension Cost account at the end of December 31, 2019? Indicate the amount and whether it is on the DEBIT or CREDIT side.2. How will pension expense in the current year change if the discount rate increases? 3. How will pension expense in the current year change if the actual rate of return increases

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