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Need help Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2018 Prior service cost at
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Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2018 Prior service cost at Jan. 1, 2818, from plan amendment at the $42 million beginning of 2015 (amortization: $6 million per year) Net loss-ADCI at Jan.1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $90 million 1e years 7% (s in millions) an Asset $ 380 Beginning of 2818 Service cost S 580 Beginning of 2018 Return on plan assets, 8% (les expected) 48 30.4 Interest cost, 7% Loss (gain) on PBO Less: Retiree benefits(29) Less: Retiree benefits End of 2018 48.6 (8) Cash contributions 95 (29) 631.6 End of 2818 $476.4 Required: 1-a. Determine Douglas-Roberts' pension expense for 2018. 1.b, 2. to 4. Prepare the appropriate journal entries to record the pension expense, to record any 2018 gains and losses, to record the cash contribution to plan assets and to record retiree benefits. Complete this question by entering your answers in the tabs below Req 1A Req 18 and 2 o 4 Determine Douglas-Roberts' pension expense for 2018. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (Ge. 5,500,000 should be entered as s.5)) Pension Expense 48.0 40.6 Service cost Interest cost Expected return on assets Amortization of prior service cost Amortization of net loss Step by Step Solution
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