Business, 11.03.2020 01:56 kingofthesea88

Pension data for Barry Financial Services Inc. Include the following: ($ in thousands) $ 410 Discount rate, 7% Expected return on plan assets, 11% Actual return on plan assets, 18% Service cost, 2021 January 1, 2021: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Prior service cost-AOCI (2021 amortization, $45) Net gain-AOCI (2021 amortization, $10) There were no changes in actuarial assumptions. December 31, 2021: Cash contributions to pension fund, December 31, 2021 Benefit payments to retirees, December 31, 2021 2,800 2,5ee 2,982 375 430 345 370 Required: 1. Determine pension expense for 2021. 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine pension expense for 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands rounded to 1 decimal place (i. e., 5,500 should be entered as 5.5).) Pension Expense Pension expense Required 1 Required 2 >

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Pension data for Barry Financial Services Inc. Include the following: ($ in thousands) $ 410 Discoun...

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