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The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years 2 0 2 4 and 2 0 2 5 are
The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal years and are presented below $ in millions
Information Provided by Pension Plan Actuary
a Projected benefit obligation as of December $
b Prior service cost from plan amendment on January $ straight line amortization for year average remaining service period
cService cost for $
d Service cost for $
e Discount rate used by actuary on projected benefit obligation for and
f Payments to retirees in
gPayments to retirees in $
h No changes in actuarial assumptions or estimates
I.Net gain AOCl on January $
j Net gains and losses are amortized for years is
and
Information Provided by Pension Fund Trustee
a Plan asset balance at fair value on January $
b contributions $
C contributions $
d Expected longterm rate of return on plan assets
e actual return on plan assets $
F actual return on plan assets$
Required:
Calculate pension expense for and
Prepare the journal entries for and to record pension expenter
Prepare the journal entries for and to record any gains und losses and new prior service cost
Prepare the journal entries for and to record a the cash contribution to plan assets and b the benetik paymentstoretirees
to plan as Calculate pension expense for and
Note: Amounts to be deducted should be indicated with a minus sign. Do not round intermediate calculations. Enter your answers in millions rounded to decimal place ie should be entered as
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