Pension data for Barry Financial Services Inc. include the following: in 000s) Discount rate, 7...
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Pension data for Barry Financial Services Inc. include the following: in 000s) Discount rate, 7 Expected return on plan assets, 12% Actual return on plan assets, 11 service cost, 2018 January 1, 2018: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Prior service cost-Aoct (2018 amortization, $50) $ 420 Book 2, 850 2,550 2,950 380 440 Hint Print Net gain-AOCT (2018 amortization, $10) eferences There were no changes in actuarial assumptions. December 31, 2018: Cash contributions to pension fund, Dec ember 31, 2018 355 380 Benefit payments to retirees, December 31, 2018 Required: 1. Determine pension expense for 2018, 2 Prepare the journal entries to record pension expense. gains and losses (if any), funding, and retiree benefits for 2
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