(2025 actual retum con plan acsets =$210 Requetred: 1. Calculate pension expense for 2024 and 2025 2 Prepare the poumal entrles for 2024 and 2025 to rocord pension expense. 3. Prepare the journal entrios for 2024 and 2025 to record any gains and losces and new prior service cost. 4. Prepare the foumal entrles for 2024 and 2025 to record (a) the cash contribution to plan ascots and (b) the benefit payments to reciroos: Complete thin question by entering voer ansivers in the tabs below. Calculate persicer expense for 2024 and 2025. Noter Amounts to be dedicted should be indicated with a minus sign, Do not round intermediate calculations, Eriter your iteolind i Hogulind 2 mequined 3 Hequired 4 Journal entry worksheet fecord the cash contribution to plan assets. \begin{tabular}{|c|c|c|c|} \hline Year: & Centraitsournal & Debit: & Credit \\ \hline 2024 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Sheme ines a Journal entry worksheet 2 Rectrd pension eqpense. The Kollar Compary has a dofined beneft pension plan. Pension information concerning the fiscal years 2024 and 2025 are presented betow (5 in millions) Information Provided by Penslon Plan Actuary a. Projocted benefit obligation as of December 31,2023=$1,800. b. Pror semke cost from plan amendment on Jaruary 2, 2024=$400 estraight-line amortization for 10 -year werage remaining service period) c. Service cost for 2024=$520 d. Service cost for 2025=$570. e. Discount rate used by actuary on projected benefit obligation for 2024 and 2025=10% t. Payments to retirees in 2024=$380. 9. Payments to retirees in 2025=$450 h No changos in actuartal assumptions or estimates. 1. Net gain-AOCl on January 1,2024=$230 1. Net gains and losses are amortized for 10 yoars in 2024 and 2025 Informaton Provided by Pension Fund Trustee: 2. Pian aket batance at falr value on January 1,2024=$1,600 b. 2024 contributions =5540 c. 2025 contributions =$590 d. Expected long-term rate of retum on plan asce:s =12% e. 2024 actival retum on plan assets =$180 12025 pctual return on plan asfets =$210. Required: 1. Caiculate pencton expense for 2024 and 2025 . 2 Prepare the joumal entries for 2024 and 2025 to record pension expense. 4. Prepere the joumal entries for 2024 and 2025 to rocord (a) the cash contribution to plan arrets and tor the bereftipayments to rulirees. Journal entry worksheet (2025 actual retum con plan acsets =$210 Requetred: 1. Calculate pension expense for 2024 and 2025 2 Prepare the poumal entrles for 2024 and 2025 to rocord pension expense. 3. Prepare the journal entrios for 2024 and 2025 to record any gains and losces and new prior service cost. 4. Prepare the foumal entrles for 2024 and 2025 to record (a) the cash contribution to plan ascots and (b) the benefit payments to reciroos: Complete thin question by entering voer ansivers in the tabs below. Calculate persicer expense for 2024 and 2025. Noter Amounts to be dedicted should be indicated with a minus sign, Do not round intermediate calculations, Eriter your iteolind i Hogulind 2 mequined 3 Hequired 4 Journal entry worksheet fecord the cash contribution to plan assets. \begin{tabular}{|c|c|c|c|} \hline Year: & Centraitsournal & Debit: & Credit \\ \hline 2024 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Sheme ines a Journal entry worksheet 2 Rectrd pension eqpense. The Kollar Compary has a dofined beneft pension plan. Pension information concerning the fiscal years 2024 and 2025 are presented betow (5 in millions) Information Provided by Penslon Plan Actuary a. Projocted benefit obligation as of December 31,2023=$1,800. b. Pror semke cost from plan amendment on Jaruary 2, 2024=$400 estraight-line amortization for 10 -year werage remaining service period) c. Service cost for 2024=$520 d. Service cost for 2025=$570. e. Discount rate used by actuary on projected benefit obligation for 2024 and 2025=10% t. Payments to retirees in 2024=$380. 9. Payments to retirees in 2025=$450 h No changos in actuartal assumptions or estimates. 1. Net gain-AOCl on January 1,2024=$230 1. Net gains and losses are amortized for 10 yoars in 2024 and 2025 Informaton Provided by Pension Fund Trustee: 2. Pian aket batance at falr value on January 1,2024=$1,600 b. 2024 contributions =5540 c. 2025 contributions =$590 d. Expected long-term rate of retum on plan asce:s =12% e. 2024 actival retum on plan assets =$180 12025 pctual return on plan asfets =$210. Required: 1. Caiculate pencton expense for 2024 and 2025 . 2 Prepare the joumal entries for 2024 and 2025 to record pension expense. 4. Prepere the joumal entries for 2024 and 2025 to rocord (a) the cash contribution to plan arrets and tor the bereftipayments to rulirees. Journal entry worksheet