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Paragraph Styles [. Pension data for the Denver Company include the following for the current calendar Oear. Discount rate, 8% Expected return on plan assets,
Paragraph Styles [. Pension data for the Denver Company include the following for the current calendar Oear. Discount rate, 8% Expected return on plan assets, 10% Actual return on plan assets, 9% Service cost, $200,000 January 1: PBO $1,400,000 ABO 1,000,000 Plan assets 1,500.000 Amortization of prior service cost 20.000 Amortization of net gain 4.000 December 31: Cash contributions to pension fund $220,000 Benefit payments to retirees 240.000 a) Determine pension expense for the year. b) Prepare the journal entries to record pension expense and funding On 72 Accessibility: Unavailable D Focus W 16 17 f9 144 f10 1 11 f11 112 Port sC & * 5 6 7 8 O
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