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Beale Management has a noncontributory, defined benefit pension plan. On December 31,2021 (the end of Beale's fiscal year), the ollowing pension-related data were available: Required:

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Beale Management has a noncontributory, defined benefit pension plan. On December 31,2021 (the end of Beale's fiscal year), the ollowing pension-related data were available: Required: 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gain-AOCl, and prior service cost-AOCl 1Hint You might find Taccounts useful.] 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension Hability for the funded status of the olan? Complete this question by entering your answers in the tabs below. Prepare the 2021 joumal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. (If no entry is required for a transactionfevent, select "No journal entry required" in the first account ficld. Enter your answers in millions. (1,e, 10,000,000 should be entered a5 10) i) Journal entry worksheet Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. (If no entry is required for a transaction/event, select "No fournal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000-should be-entered as 10).-) Determine the balances at December 31,2021 , in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCt [Hint: You might find T-accounts useful.]. (Enter your answers in miltions. (i.e., 10,000,000 should be entered as 10 ). Complete this question by entering your answers in the tabs below. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan? (Enter your answers in millions. (i.e, 10,000,000 should be entered as 10).)

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