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Use the following to answer questions 5-8: The following information relates to the pension plan...

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Accounting

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Use the following to answer questions 5-8: The following information relates to the pension plan for the employees of Turner Co. 12/3114 123115 Accum. benefit obligation Projected benefit obligation Fair value of plan assets AOCI-net (gain) or loss $6,160,000 $6,440,000 $8,400,00o 6,510,000 6,729,000 9,338,000 5,950,000 7.280,000 8,036,000 (1,008,000) (1,120,000) Settlement rate (for year) 1196 8% 11% 796 Expected rate of return (for year) Turner estimates that the average remaining service life is 14 years. Turner's contribution was $658,000 in 2015 and benefits paid were $882,000. 5 The interest cost for 2015 is A) $627,480. B) $708,400. C) $766,920 D) $740,190 E) None of the above Answer Q8 before Q6 6. The gain or loss on plan assets in 2015 is: Hint: Gain(loss) = actua!Return-expectedReturn A) $45,920 loss. B) $26,320 gain. C) $22,400 gain. D) $470,400 gain. E) None of the above

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