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Using the information below, what is the Pension Expense Meder Inc will record for 2016? (NOTE: the values in the table are in 000s of
Using the information below, what is the Pension Expense Meder Inc will record for 2016? (NOTE: the values in the table are in 000s of dollars). Meder Inc. has a defined benefit pension plan. The following information is provided from the actuaries and plan trustees regarding pension transactions for the year ending 12/31/2016. Amounts in thousands Pension Plan Assets Beginning Balance $ 1,100 Projected Benefit Obligation Beginning Balance, $ 1,400 unadjusted Prior Service Cost 140 Service Cost 350 Discount rate 5% 154 Actual return Contributions from Meder Inc. Expected Return 54 9% Additionally, we are informed that the $140,000 prior service cost came from an adjustment in the pension plan that was put into effect in 2016. For 2016, the Net Pension Loss had a beginning balance of$200,000. The Trustee also reports that pension payments totally $120,000 were made during 2016 and that the estimated remaining service time for employees in the pension plan is 20 years. 0 A $337,300 o B $345,000 o C $ 120,000 O D $ 490,000 O E $282,300 - what would you record to show the payment of pension benefits? ( O A Debit Pension Benefit Obligation $120,000 and Credit Cash $120,000 O B Debit Plan Assets $120,000 and Credit Pension Benefit Obligation $120,000 O c Debit Pension Benefit Obligation $120,000 and Credit Plan Assets $120,000 O D Debit Pension Expense $120,000 and Credit Cash $120,000 O E Debit Cash $120,000 and Credit Plan Assets $120,000 , what is the Net Gain or Loss on the Pension for 2016? O A Gain of $55,000 B Gain of $154,000 o C Loss of $55,000 O D Loss of $145,000 O E Not enough information to determine Using the information below, what is the Pension Expense Meder Inc will record for 2016? (NOTE: the values in the table are in 000s of dollars). Meder Inc. has a defined benefit pension plan. The following information is provided from the actuaries and plan trustees regarding pension transactions for the year ending 12/31/2016. Amounts in thousands Pension Plan Assets Beginning Balance $ 1,100 Projected Benefit Obligation Beginning Balance, $ 1,400 unadjusted Prior Service Cost 140 Service Cost 350 Discount rate 5% 154 Actual return Contributions from Meder Inc. Expected Return 54 9% Additionally, we are informed that the $140,000 prior service cost came from an adjustment in the pension plan that was put into effect in 2016. For 2016, the Net Pension Loss had a beginning balance of$200,000. The Trustee also reports that pension payments totally $120,000 were made during 2016 and that the estimated remaining service time for employees in the pension plan is 20 years. 0 A $337,300 o B $345,000 o C $ 120,000 O D $ 490,000 O E $282,300 - what would you record to show the payment of pension benefits? ( O A Debit Pension Benefit Obligation $120,000 and Credit Cash $120,000 O B Debit Plan Assets $120,000 and Credit Pension Benefit Obligation $120,000 O c Debit Pension Benefit Obligation $120,000 and Credit Plan Assets $120,000 O D Debit Pension Expense $120,000 and Credit Cash $120,000 O E Debit Cash $120,000 and Credit Plan Assets $120,000 , what is the Net Gain or Loss on the Pension for 2016? O A Gain of $55,000 B Gain of $154,000 o C Loss of $55,000 O D Loss of $145,000 O E Not enough information to determine
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