B C D E H KLM N P R STL On the very last day of the year the Actuary informs the Controller that the average age of the retirees has substantially exceeded their expected e spars. The average age 695. The Actuary informs the Controller that the Pension Obligatons will drop to 100,000 as of December 31, 2020. Use this row to record the ending balance of the Pension Obligation on the Plan Trustees Ledger 19 13 100,000 The balance in the Plan asetswil change as you flin Column L. Use this rowto record the subtotalsinactivity 20 Throughout 2001 during the year for Pension Expenses, OC and Cash 21 FISCAL YEAR 2002 Calculate 22 Janaury 1, 2002 Use this line to record opening balances 14 On January 1, 2002 the Actuary informs the Controler of a stunning report. Over Soxofthe retirees aged 95 and over have died due to COVID 19. The Person Olgation to be reduced by $ 120,000, This is the be treated as one time unique gain or loss and to be deferred using cl. 23 15 24 25 16 17 28 27 Report avhed Subtotal for the opening balance as of January 1, 2002 The Annual Service cost for 2002 is $15.000 The Actuary informs the Controller that the Settlement Rate is now 5% Calculate the ANNUAL INTEREST COST The Controller decides the Covid Pandemic creates too much market volatility. He adopts a new Accounting policy that an Estimated Return will be used inestimating the Pension Expense. The estimated Return for 2002 $10,000 18 19 28 29 21 30 31 22 28 32 24 33 25 The Man Trustee reports an ACTUA, RETURN on planasses of $15.000). The Controller was right to switch toan estimated return This own caused by the pandemi The Company decides to make No contribution to the Persian planda to the unexpected death of the older retirees The Trustee pays out $5,000 to the redress The controller amortizes $5,000 of the Prior $ Service Cost The controlar amourtizes $ 2,000 as a Debit to Pension Expense for the difference between the estimated and actual return on plan assets. The controller amortizes $3,000 into the Pension Expense related to the unexpected GAIN from the death of the retirees due to the Pandemic Use this row to prepare the entries to Pension Pesets and Pension Llabities on the Company's Balance Sheet USES TWO TOT SUIS TO Pension Obligation and the Pension Assets in 2002 unlike 2001 these are the ending balances for these two Rems. The actuary is making ne Use this line to record the net Pension Expense, the Oci changes and the nat entry to CASH 34 26 35 27 36 28 27 B C D E H KLM N P R STL On the very last day of the year the Actuary informs the Controller that the average age of the retirees has substantially exceeded their expected e spars. The average age 695. The Actuary informs the Controller that the Pension Obligatons will drop to 100,000 as of December 31, 2020. Use this row to record the ending balance of the Pension Obligation on the Plan Trustees Ledger 19 13 100,000 The balance in the Plan asetswil change as you flin Column L. Use this rowto record the subtotalsinactivity 20 Throughout 2001 during the year for Pension Expenses, OC and Cash 21 FISCAL YEAR 2002 Calculate 22 Janaury 1, 2002 Use this line to record opening balances 14 On January 1, 2002 the Actuary informs the Controler of a stunning report. Over Soxofthe retirees aged 95 and over have died due to COVID 19. The Person Olgation to be reduced by $ 120,000, This is the be treated as one time unique gain or loss and to be deferred using cl. 23 15 24 25 16 17 28 27 Report avhed Subtotal for the opening balance as of January 1, 2002 The Annual Service cost for 2002 is $15.000 The Actuary informs the Controller that the Settlement Rate is now 5% Calculate the ANNUAL INTEREST COST The Controller decides the Covid Pandemic creates too much market volatility. He adopts a new Accounting policy that an Estimated Return will be used inestimating the Pension Expense. The estimated Return for 2002 $10,000 18 19 28 29 21 30 31 22 28 32 24 33 25 The Man Trustee reports an ACTUA, RETURN on planasses of $15.000). The Controller was right to switch toan estimated return This own caused by the pandemi The Company decides to make No contribution to the Persian planda to the unexpected death of the older retirees The Trustee pays out $5,000 to the redress The controller amortizes $5,000 of the Prior $ Service Cost The controlar amourtizes $ 2,000 as a Debit to Pension Expense for the difference between the estimated and actual return on plan assets. The controller amortizes $3,000 into the Pension Expense related to the unexpected GAIN from the death of the retirees due to the Pandemic Use this row to prepare the entries to Pension Pesets and Pension Llabities on the Company's Balance Sheet USES TWO TOT SUIS TO Pension Obligation and the Pension Assets in 2002 unlike 2001 these are the ending balances for these two Rems. The actuary is making ne Use this line to record the net Pension Expense, the Oci changes and the nat entry to CASH 34 26 35 27 36 28 27