Beale Management has a noncontributory, defined benefit pension plan On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available Projected Benefit obligation Balance, January 1, 2021 Service cost Interest cost, discount rate, 5 Gain due to changes in actuarial assumptions in 2021 Pension benefits paid Balance, December 31, 2021 (5 in sillions) $ 680 70 34 (18) (34 $ 732 (5 in Killions) 5700 44 Plon Assets Balance, January 1, 2021 Actual return on plan assets (Expected return on plan assets, $49) Cas contributions Pension benefits paid Balance, December 31, 2021 85 5795 January 1, 2021, balance Pension asset Prior service cost-AOCI (mortization 56 per year Net Bain-OC Cany amortization over 10 years) (s in millions) 520 30 110 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--AOCI, and prior service costAOCI [Hint: You might find Taccounts useful 5. What amount will Beale report in its 2021 balance sheet sant pension asset or net pension liability for the funded status of the plan? Complete this question by entering your answers in the tabs below. Reg 1 to 3 R4 Red 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. (no entry is required for a transaction/event, select "No joumal entry required in the first account field Enter your answers in millions 10,000,000 should be entered as 10) Req 1 to 3 Reg 4 Reqs 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 journal entry required in the first account field Enter your answers in millions. (1... 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet Required: 1. to 3. 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 4. Determine the balances at December 31, 2021, in the PBO plan assets, the net gain--AOCI, and prior service cost-AOCI [Hint You might find T-accounts useful.) 5. 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? Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Reqs 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. (l... 10,000,000 should be entered as 10).) Balance Sheet as of 2021 milion ( Req4
