Question : 104. The Aphrodite Manufacturing Company reports the following information related to : 1230326

104. The Aphrodite Manufacturing Company reports the following information related to its only pension plan for 2009 (amounts in millions).

Pension Plan Assets, Beginning of 2009.. . . . . . . . . . . . . . . . . . . . . . . . . . .

$43,484 

Plus Actual Return on Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           4,239  

Plus Employer Contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

              526

Less Benefits Paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        (2,046)

Pension Plan Assets, End of 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

       $46,203      ======

Pension Plan Liability, Beginning of 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . .

       $45,183

Plus Service Cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

              908

Plus Interest Cost   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           2,497

Less Actuarial Gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           (960)

Less Benefits Paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        (2,046)

Pension Plan Liability, End of 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        $45,582       ======

Service Cost   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

            $908

Interest Cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           2,497

Expected Return on Pension Plan Investments . . . . . . . . . . . . . . . . . . . . . . .

        (3,456)

Amortization of Actuarial Losses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           1,101

Net Pension Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        $ 1,050        ======

Give a single journal entry on the books of the Aphrodite Manufacturing Company to recognize pension expense, the pension plan contribution, and the change in the net pension asset or net pension liability for 2009. Be sure to consider needed entries in Other Comprehensive Income, supporting the entry in this account with amounts from the disclosures above.  Ignore income taxes. 

105. Apollo, an automobile manufacturer reports the following information related to its health care plan for 2009 (amounts in millions).

Health Care Plan Assets, Beginning of 2009……………………………………

$ 6,497

Plus Actual Return on Investments…………………………………………………….

       510

Plus Employer Contribution ……………………………………………………………

           0 

Less Benefits Paid……………………………………………………………………….

(1,547) 

Health Care Plan Assets, End of 2009…………………………………………….    

$ 5,460 =====

Health Care Plan Liability, Beginning of 2009…………………………………..  

$39,274

Plus Service Cost……………………………………………………………………………

       617

Plus Interest Cost ………………………………………………………………………….

    2,004

Less Actuarial Gain……………………………………………………………………….

(9,485)

Less Benefits Paid…………………………………………………………………………

(1,547)

Health Care Plan Liability, End of 2009 ……………………………………………

$30,863======

Service Cost……………………………………………………………………………………

    $ 617

Interest Cost……………………………………………………………………………………

    2,004

Expected Return on Health Care Plan Investments. ……………………………

    (479)

Amortization of Actuarial Losses………………………………………………………

        41

Net Health Care Benefits Expense…………………………………………………. 

$ 2,183 ======

Give a single journal entry for the Apollo, to recognize health care benefits expense, the health care plan contribution, and the change in the net health care benefits asset or net health care benefits liability for 2009. Be sure to consider needed entries in Other Comprehensive Income, supporting the entry in this account with amounts from the preceding disclosures. Ignore income taxes.