Actuary and trustee reports indicate the following changes in the PBO and plan assets of Mahomes Industries during $2024$:

Prior service cost at January $1,2024,$ from plan amendment at the beginning of $2021($amortization: $$5$ million per year$)$ $ $35$ million

Net loss$$AOCI at January $1,2024($previous losses exceeded previous gains$)$ $ $130$ million

Average remaining service life of the active employee group $10$ years

Actuary's discount rate $7\%$

$($$ in millions$)$

PBO Plan Assets

Beginning of $2024$ $ $700$ Beginning of $2024$ $ $500$

Service cost $81$ Return on plan assets, $8\%(10\%$ expected$)40$

Interest cost, $7\%49$

Loss $($gain$)$ on PBO $(15)$ Cash contributions $91$

Less: Retiree benefits $(40)$ Less: Retiree benefits $(40)$

End of $2024$ $ $775$ End of $2024$ $ $591$

Required:

$1-$a$.$ Determine Mahomes's pension expense for $2024.$

$1-$b$,2.$ to $4.$ Prepare the appropriate journal entries to record the pension expense, to record any $2024$ gains and losses, to record the cash contribution to plan assets and to record retiree benefits.The following data are available pertaining to Household Appliance Company's retiree health care plan for $2024$:

Required:

What is the accumulated postretirement benefit obligation at the beginning of $2024?$

What is interest cost to be included in $2024$ postretirement benefit expense?

What is service cost to be included in $2024$ postretirement benefit expense?

Prepare the journal entry to record the postretirement benefit expense for $2024.$

Complete this question by entering your answers in the tabs below.

Req $1$ to $3$

What is the accumulated postretirement benefit obligation at the beginning of $2021?$ What is interest cost and service cost to

be included in $2024$ postretirement benefit expense?

Accumulated postretirement benefit obligation

Interest cost

Service cost