Carpenter Gems Began the Year with a Net Pension Liability

question 130

Essay

Carpenter Gems began the year with a net pension liability of $84 million (underfunded pension plan). Pension expense for the year included the following ($ in millions): service cost, $30; interest cost, $18; expected return on assets, $12; amortization of net loss, $6.
Required:
Prepare the appropriate general journal entry to record Carpenter's pension expense.

---

Definitions:

Relationship

A connection or association between individuals, whether emotional, social, professional, or familial, shaped by interactions and mutual experiences.

Scatterplot

A graphical representation using dots to show the relationship between two quantitative variables.

Height Measurements

The quantification of a person's stature from the base to the top of the head while standing upright.

Weight Measurements

The determination of the mass of an object or body, often involving scales and expressed in units such as kilograms or pounds.