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I have the answer for the tables. please check if it is correct and help me to calculate it. please show the calculation. thank you

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I have the answer for the tables. please check if it is correct and help me to calculate it. please show the calculation. thank you so much. image text in transcribed
Il Work-Out Problem 10 points) The accountant for Marlin Corporation has developed the following information for the company's defined benefit pension plan for 2017 and 2018: 2018 Account 2017 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500.000 600,000 Amortization of prior service cost 250,000 230.000 Annual contribution to the plan 1,050,000 1.230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 996 is The projected benefit obligation at December 31, 2018, amounted to S8,750,000. 14 Instructions a) Using the above information for Marlin Corporation, complete the pension worl(sheet for 2017 and 2018. Calculated amounts should be supported. (b) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2017 and 2018. 1 W Determine whether there will be any net gains/losses amortization for 2019 using the gorridor approach. Bonus Question (5 points) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2018. The pension assets of 2018 is underfund. Il Work-Out Problem 10 points) The accountant for Marlin Corporation has developed the following information for the company's defined benefit pension plan for 2017 and 2018: 2018 Account 2017 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500.000 600,000 Amortization of prior service cost 250,000 230.000 Annual contribution to the plan 1,050,000 1.230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 996 is The projected benefit obligation at December 31, 2018, amounted to S8,750,000. 14 Instructions a) Using the above information for Marlin Corporation, complete the pension worl(sheet for 2017 and 2018. Calculated amounts should be supported. (b) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2017 and 2018. 1 W Determine whether there will be any net gains/losses amortization for 2019 using the gorridor approach. Bonus Question (5 points) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2018. The pension assets of 2018 is underfund. 2017 Events Journal Pension expense Lia Act 2300 Pem 2.000000 Service Cat 5,500,000 1.000 Go Exp 200, Achal Ron 300,000 200X Unexpected TO Loworx Amor of SCP TOLONG Cash Contribution Bent Paid 100.000 0.000 Journal Entry 0,00 09.00 ) . 30 20 00,000 2009 decodexO89. 1231 Balances TUOS 2018 Events Journal Pension Entre cash OCI P ocida Pension One ass a Disclosures Projected Assets Pension Obli TU BC .000 Pension Amets 1 bal 2000 1000 05 589. Service Cost So, 000 Inter Exp 05 TRANG CONG 1.257.29 4 Achal Return 1.157. 2 (600,000 bo Unexpected Loss or Gain Amor of PSC 230.000 Cash Contribution Benefit Paid 1230.000 Tuo 4 . 500.000 (1.100.000 face 1.090.000 1231 Balances 22.00 230.000 1020.00 59.20 2670.00 18.150.com 660.000 4.187.1) Lea Dee (IE) Il Work-Out Problem 10 points) The accountant for Marlin Corporation has developed the following information for the company's defined benefit pension plan for 2017 and 2018: 2018 Account 2017 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500.000 600,000 Amortization of prior service cost 250,000 230.000 Annual contribution to the plan 1,050,000 1.230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 996 is The projected benefit obligation at December 31, 2018, amounted to S8,750,000. 14 Instructions a) Using the above information for Marlin Corporation, complete the pension worl(sheet for 2017 and 2018. Calculated amounts should be supported. (b) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2017 and 2018. 1 W Determine whether there will be any net gains/losses amortization for 2019 using the gorridor approach. Bonus Question (5 points) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2018. The pension assets of 2018 is underfund. Il Work-Out Problem 10 points) The accountant for Marlin Corporation has developed the following information for the company's defined benefit pension plan for 2017 and 2018: 2018 Account 2017 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500.000 600,000 Amortization of prior service cost 250,000 230.000 Annual contribution to the plan 1,050,000 1.230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 996 is The projected benefit obligation at December 31, 2018, amounted to S8,750,000. 14 Instructions a) Using the above information for Marlin Corporation, complete the pension worl(sheet for 2017 and 2018. Calculated amounts should be supported. (b) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2017 and 2018. 1 W Determine whether there will be any net gains/losses amortization for 2019 using the gorridor approach. Bonus Question (5 points) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2018. The pension assets of 2018 is underfund. 2017 Events Journal Pension expense Lia Act 2300 Pem 2.000000 Service Cat 5,500,000 1.000 Go Exp 200, Achal Ron 300,000 200X Unexpected TO Loworx Amor of SCP TOLONG Cash Contribution Bent Paid 100.000 0.000 Journal Entry 0,00 09.00 ) . 30 20 00,000 2009 decodexO89. 1231 Balances TUOS 2018 Events Journal Pension Entre cash OCI P ocida Pension One ass a Disclosures Projected Assets Pension Obli TU BC .000 Pension Amets 1 bal 2000 1000 05 589. Service Cost So, 000 Inter Exp 05 TRANG CONG 1.257.29 4 Achal Return 1.157. 2 (600,000 bo Unexpected Loss or Gain Amor of PSC 230.000 Cash Contribution Benefit Paid 1230.000 Tuo 4 . 500.000 (1.100.000 face 1.090.000 1231 Balances 22.00 230.000 1020.00 59.20 2670.00 18.150.com 660.000 4.187.1) Lea Dee (IE)

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