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USE THE FOLLOWING INFORMATION FOR# 1120: Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of
USE THE FOLLOWING INFORMATION FOR\# 1120: Interest (Cost) Rate Expected rate of return on plan assets Actual rate of return on plan assets Beginning of year balance in CASH Projected benefit obligation at the beginning of 2019 Service cost, 2019 Loss (gain) on PBO for assumption changes Less: Benefits paid to retirees during the year \begin{tabular}{|rr|} \hline$ & 2,520,474 \\ \hline$ & 243,47 \\ \hline$ & 24,006 \\ \hline$ & (342,92 \\ \hline \end{tabular} Plan assets at the beginning of the year Cash contributions to the pension plan in 2019 Less: Benefits paid to retirees during the year \begin{tabular}{|rr|} \hline$ & 2,023,23 \\ \hline$ & 301,77 \\ \hline$ & (342,92 \\ \hline \end{tabular} Additional information reported from the actuary and plan trustee: Prior Service Costs incurred beginning of 2018 Beginning of year balance in AOCl for Net Loss Average remaining service years of employees Beginning of year balance in AOCl for PSC 11.) Calculate the 2019 Interest cost. 12.) Calculate the 2019 expected return on plan assets. 13.) Calculate the 2019 actual return on plan assets. 14.) Calculate the 2019 adjustment for gain or loss. 15.) Calculate the 2019 amortization of Prior Service Cost. 16.) Calculate the 2019 amortization of the net loss. 17.) A loss on assumption changes has what impact on regular net income? Increase, decrease OR no impact. 18.) What amount should be debited to pension expense for 2019
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