Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2021: $ 28 million Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2018 (amortization: $4 million per year) Net loss-AOCI at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $110 million 10 years 7 % $700 ($ in millions) Plan PBO Assets Beginning of 2021 $900 Beginning of 2021 Service cost 44 Return on plan assets, 8% (10% expected) Interest cost, 7% 63 Loss (gain) on PBO (17) Cash contributions Less: Retiree benefits (27) Less: Retiree benefits End of 2021 $963 End of 2021 56 93 (27) $822 Required: 1-a. Determine Douglas-Roberts's pension expense for 2021. 1.b, 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. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B and 2 to 4 Required: 1-a. Determine Douglas-Roberts's pension expense for 2021. 1-b, 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. Complete this question by entering your answers in the tabs below. Req 1A Req 18 and 2 to 4 Determine Douglas-Roberts's pension expense for 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Pension Expense Pension expense $ 0 Req 1A Req 1B and 2 to 4 > Required: 1-a. Determine Douglas-Roberts's pension expense for 2021. 1-b, 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. Complete this question by entering your answers in the tabs below. Req 1A Req 18 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).) View transaction list Journal entry worksheet 1 2 3 3 4 5 > Record annual pension expense. Note: Enter debits before credits. General Journal Debit Credit Event 1
