Check my we 7 Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott and Abbott received the following information: Projected Benefit Obligation Balance, January 1 Service cost ($ in millions) $200 10 points 33 Interest cost 22 Skipped Benefits paid (11) Balance, December 31 $244 Plan Assets Balance, Actual return on plan assets Contributions 2018 $100 12 January 1 33 Print Benefits paid (11) Balance, December 31 $134 Refenences The expected long-term rate of return on plan assets was 11%6. There was no prior service cost and a negligible net loss-AOCI on January 1, 2018. Required: 1. Determine Abbott and Abbott's pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2018. Fansion epn milion Prev 7 of 14 Next Plan Assets Balance, January 1 Actual return on plan assets Contributions 2018 Benefits paid eBook $100 12 33 Print (11) Balance, December 31 $134 References The expected long-term rate of return on plan assets was 11%. There was no prior service cost and a negligible net loss-AOC January 1, 2018. V Required: 1. Determine Abbott and Abbott's pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2018. Pension expense million Mc Graw Hill tion ORIppeu Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (1.e., 10,000,000 should be eBook entered as 10).) Print View transaction list References Journal entry worksheet 1 2 Record the pension expense. Note: Enter debits before credits. Event General Journal Debit Credit 1 Next> Mc Graw Hill MacBook Air Skipped Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) eBook Print View transaction list References Journal entry worksheet MacBook Air