Pension plan calculations and journal entries On January 1, 2014, Prune Ltd.reported the following balances relating to their defined benefit pension plan: 
Instructions
a.Calculate the defined benefit obligation at December 31, 2014.
b.Calculate the fair value of plan assets at December 31, 2014.
c.Calculate pension expense for 2014.
d.Prepare the journal entries to record the pension expense and the contributions for 2014.
Correct Answer:
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