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Actuary and trustee reports indicate the following changes in the PBO and plan assets of Sporting Industries during 2018:
Required:
1) Determine Sporting's pension expense for 2018 and prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets.
2) Prepare the appropriate journal entries to record any 2018 gains and losses.
Rewards
Benefits, monetary or non-monetary, given for meeting certain criteria or achieving specific goals, often used as motivation in various contexts.
Workload Pressure
A situation in which the demands of the job exceed the employee's capacity to manage them, potentially leading to stress and decreased performance.
Creativity
The use of imagination or original ideas to create something; inventiveness.
Positively Correlated
Refers to a relationship between two variables where an increase in one variable is associated with an increase in the other.
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