Kamphor Co. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2021:

January 1, 2021 December 31, 2021

Projected benefit obligation $2,500,000 $2,755,000

Fair value of plan assets 1,250,000 1,750,000

Accumulated OCI (PSC) 540,000 300,000

Service cost for 2021 is $180,000 and amortization of prior service cost is $240,000. The company's funding contribution to the plan in 2021 amounted to $525,000. The expected return on plan assets and the settlement rate were both 8%. What is pension expense for 2021?

Select one:

$520,000

$620,000

$720,000

($5,000)

Service cost component for 2021 is $180,000 and amortization of prior service cost is $240,000. The company's funding contribution to the plan in 2021 amounted to $525,000. The expected return on plan assets and the settlement rate were both 8%. Which of the following increased the Pension Benefit Obligation for 2021?

Select one:

Amortization of Service Cost

Service Cost

Expected Return on Assets

Funding

Service cost for 2021 is $180,000 and amortization of prior service cost is $240,000. The company's actual funding of the plan in 2021 amounted to $525,000. The expected return on plan assets and the settlement rate were both 8%. The journal entry to record pension expense for the period will include

Select one:

a debit to Cash for $525,000.

a debit to Pension Asset/ Liability for $5,000.

a debit to Pension Asset/ Liability for $245,000.

a credit to Investment Income for $100,000.

Service cost component for 2021 is $180,000 and amortization of prior service cost is $240,000. The company's actual funding of the plan in 2021 amounted to $525,000. The expected return on plan assets and the settlement rate were both 8%. What other piece of information would be required to complete a pension worksheet for Kamphor Co.?

Select one:

the remaining service lives of employees

the cost of capital

the increase or decrease in Pension Asset/ Liability

the cash payments to beneficiaries