Wainright Co

question 49

Essay

Wainright Co. began the year with a net pension liability of $112 million (underfunded pension plan). Pension expense for the year included the following ($ in millions): service cost, $40; interest cost, $24; expected return on assets, $16; amortization of net loss, $8; amortization of prior service cost, $12.
Required:
Prepare the appropriate general journal entry to record Wainright's pension expense.

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Definitions:

Otoliths

Small calcified structures found in the inner ears of vertebrates, important for balance and hearing.

Rod Photoreceptors

Cells in the retina of the eye responsible for vision in low light conditions.

Rhodopsin

Light-absorbing molecule in rod cells and cone cells that contains a pigment and the protein opsin.

Light Ray

A line or path along which light energy travels in a straight line, used to model the direction and behavior of light.