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File Home Insert Draw P age Layout Formulas Data Review View Help == Times New Roman BIU 11 AA - OA Wrap Text Merge & Center - Paste General $ - % E - Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles Clipboard Font Alignment Number Cells 178 A ALBIC I DE FIGHT 64 Sapphire Distribution has a defined benefit pension plan. Pension information concerning the fiscal years 2019 and 2020 are presented below ($ in millions) in '000s) $ 1,925 Information provided by Pension Plan Actuary: a. Projected benefit obligation at Dec 31, 2018 b. Prior service cost from plan amendment on January 1, 2019 (straight-line amortization for 10-year average remaining service period.) c. Service cost for 2019 320 575 630 8% 465 d. Service cost for 2020 e. Discount rate used by actuary on projected benefit obligation for 2019 & 2020 f. Payments to retirees in 2019 g. Payments to retirees in 2020 h. There were no changes in actuarial assumptions or estimates in either year. i. Balance in the net gain -- AOCI account on January 1, 2019 j. Net gains and losses are amortized for 10 years beginning in 2019 480 255 Sheet1 Sheets + Ready O Type here to search hp LILDIG POUC LAYUULTURTUS) Dald Neview VIEWren View LE Times New Roman 11 BIU - - Font - - A Wrap Text Merge & Center - General $ -% , &- Insert Delete Forr Conditional Format as Cell Formatting Table Styles Styles bard Go Alignment Number Cells j. Net gains and losses are amortized for 10 years beginning in 2019 Information provided by Pension Fund Trustee: a. Plan asset balance at fair value on January 1, 2019 b. 2019 employer contributions c. 2020 employer contributions d. Expected long-term rate of return on plan assets e. 2019 actual return on plan assets f. 2020 actual return on plan assets $ 1,750 520 625 10% 260 365 Required: 1. Calculate pension expense for both years. 2. Determine the balances in the PBO and Plan Asset accounts at December 31, 2019 and 2020. 3. Prepare the journal entries for 2019 and 2020 to record pension expense 4. Prepare the journal entries for 2019 and 2020 to record any gains and losses and new prior service cost. 5. Prepare the journal entries for 2019 and 2020 to record the cash contributions to plan assets and benefits paid to retirees. + - Sheet1 Sheet3 eady 14 Type here to search

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