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The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. Prior Plan Service Net Pension Net Pension PBO Assets Cost (Gain)/Loss Expense Cash (Liability)/Asset 61 460 70 65 ($ in millions) Debit (Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance What was Ng's pension expense for the year? Multiple Choice $75 million $61 million $84 million $218 million (95) (35) (75) (540) 65 50 61 5 (1) 132

The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. Prior Plan Service Net Pension Net Pension PBO Assets Cost (Gain)/Loss Expense Cash (Liability)/Asset 61 460 70 65 ($ in millions) Debit (Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance What was Ng's pension expense for the year? Multiple Choice $75 million $61 million $84 million $218 million (95) (35) (75) (540) 65 50 61 5 (1) 132

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. Prior Plan Service Net Pension Net Pension PBO Assets Cost (Gain)/Loss Expense Cash (Liability)/Asset 460 70 61 65 ($ in millions) Debit(Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance What was Ng's pension expense for the year? Multiple Choice $75 million $61 million $84 million $218 million (95) (35) (75) (540) 65 50 61 5 (1) 132
Transcribed Image Text:The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Ng Enterprises. Prior Plan Service Net Pension Net Pension PBO Assets Cost (Gain)/Loss Expense Cash (Liability)/Asset 460 70 61 65 ($ in millions) Debit(Credit) Beginning balance Service cost Interest cost Expected return on assets Gain/loss on assets Amortization of: Prior service cost Net gain/loss Loss on PBO Contributions to fund Retiree benefits paid Ending balance What was Ng's pension expense for the year? Multiple Choice $75 million $61 million $84 million $218 million (95) (35) (75) (540) 65 50 61 5 (1) 132
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