A partially completed pension spreadsheet showing the telationships among the ciements that constitute Carney. incorporated's. defined benelit pension plan follows. Sox years eatliet, Carney revised its perision formala and recaiculated benefits earned by employees in prior years using the more generous formula. The pror service cost created by the recalculation is being amortized at the rate of $7 minden per yeor At the end of 2024 , the pension formula was ansended again, creating an additional prior service cost of $45 million. The expected rate of return on assets and the actuary's discount rate were. 10.5, and the averoge remianing service life of the active employee group is 10 years. Required: 1. Fin in the masing amounts. 2. Prepare the 2024 joumal entry to tecord pension expense 3. Prepare the journal entry(s) 1o record any 2024 gains end losses and new prior service cost in 2024. 4. Prepare the 2024 journal entros to record (a) the cash contribution to plan assets and (b) the payment of retuee benefias Complete this question by entering your answers in the tabs below. I Iit in the missing amounts. Complete this question by entering your answers in the tabs below. 2. Prepare the 2024 journat entry to record pension expense: 3. Prepare tha journal eotry(s) to record any 2024 gains and losses and new prior sorvice cost in 2024. 4. Prepare the 2024 journal entries to record (a) the cash contribution to plan assets and (b) the payment of retiree benafits. Note: if no entry is required for a transaction/event, select "No jocinal entry requiced" in the first account field. Fnter vour answers in rilitions (1.e., 10,000,000 should be entered as. 10). A partially completed pension spreadsheet showing the telationships among the ciements that constitute Carney. incorporated's. defined benelit pension plan follows. Sox years eatliet, Carney revised its perision formala and recaiculated benefits earned by employees in prior years using the more generous formula. The pror service cost created by the recalculation is being amortized at the rate of $7 minden per yeor At the end of 2024 , the pension formula was ansended again, creating an additional prior service cost of $45 million. The expected rate of return on assets and the actuary's discount rate were. 10.5, and the averoge remianing service life of the active employee group is 10 years. Required: 1. Fin in the masing amounts. 2. Prepare the 2024 joumal entry to tecord pension expense 3. Prepare the journal entry(s) 1o record any 2024 gains end losses and new prior service cost in 2024. 4. Prepare the 2024 journal entros to record (a) the cash contribution to plan assets and (b) the payment of retuee benefias Complete this question by entering your answers in the tabs below. I Iit in the missing amounts. Complete this question by entering your answers in the tabs below. 2. Prepare the 2024 journat entry to record pension expense: 3. Prepare tha journal eotry(s) to record any 2024 gains and losses and new prior sorvice cost in 2024. 4. Prepare the 2024 journal entries to record (a) the cash contribution to plan assets and (b) the payment of retiree benafits. Note: if no entry is required for a transaction/event, select "No jocinal entry requiced" in the first account field. Fnter vour answers in rilitions (1.e., 10,000,000 should be entered as. 10)
