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RISA made major changes in the requirements for pension plan: Multiple Choice Investing Reporting Vesting Taxing Help S The following refers to the pension spreadsheet
RISA made major changes in the requirements for pension plan: Multiple Choice Investing Reporting Vesting Taxing Help S The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. Prior Plan Service Net ($ in millions) Debit (Credit) PBO Beginning balance 65 Net Pension Assets Cost (Gain)/Loss Expense Cash (Liability)/Asset 460 70 61 Pension Service cost (95) Interest cost (35) Expected return on assets 65 Gain/loss on assets 5 Amortization of: Prior service cost Net gain/loss (1) Loss on PBO (75) Contributions to fund 50 Retiree benefits paid Ending balance (540) 61 132 What was the PBO at the beginning of the year? Multiple Choice $521 mon The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC). ($ in millions) Debit (Credit). Beginning balance Service cost PBO (430) Prior Net Plan Service (Gain) Pension Net Pension Assets Cost Loss Expense Cash (Liability)/Asset Interest cost Expected return on assets Gain/loss on assets Amortization of Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance What is OTC's pension expense for the year? Multiple Choice $53.00 million 44 41 (16) (0.75) (4) (18) 18 (16) 29 (29) (495) 249 40 57 (246) Help
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