Question

Reg 1A Reg 1B and 2 to 4 Prepare the appropriate journal entries to record the pension expense, to record any 2021 gains and losses, to record the cash contribution to plan assets and to record retiree benefits. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) No Event General Journal Debit Credit 1 1 Pension expense Plan assets Amortization of net gain - OCI Amortization of prior service cost - OCI PBO ✓ 2 2 Loss - OCI Cash x 3 3 No Transaction Recorded 4 4 Plan assets Cash 5 5 PBO oo Plan assets

Answer 1

Req IA Pension Expense Service cost Inderest cool I 58 es Frpeeded merean on aseta Amordixeliopof prior Amortization of net los 56 (60) 5 10 puiere seavirecen la & Pension expense 69 9 E * on Erpeeled oreleven tzplanations assets $600 X 10%) 8 60 * Amore fization of neid boys ; Net (10.5. of 9800) pBO Amound to be amondized - © 200 los Aoed $ 180 ? 80 1o. years Amordination of low $ 10

Reg 1 B 82 to 4 Debit General Journal No Event 1. 69 ] Pension expense 1$ 60 Plan assets Amortization of nella-be? Amortization prior servicecel $10 (0) 14 114 IPBO($587846) ( To record the pension expense) hoss-OCI ($600x104.)-600x897 f 12 ७ 2 Plan assets ICTo record 18 12 gain ain on loss on assets) 3. 3. $13 PBO Gain- oci (To mecnad the change in PBO) & 13 A. 4. Plan assets Cash P 100 (To record the funding) 100 5. 5. $ 34 РВО Plan assets ( To record the reefiree benefid) § 34