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Beale Management has a noncontributory, defined benefit pension plan. On December 31,2024 (the end of Beale's fiscal year), the following pension-related data were available: Required:
Beale Management has a noncontributory, defined benefit pension plan. On December 31,2024 (the end of Beale's fiscal year), the following pension-related data were available: Required: 1. to 3. Prepare the joumal entries required for the pension during 2024 . 4. Determine the balances at December 31, 2024, in the net gain-AOCl, and prior service cost-AOCl. [Hint: You might find T-accounts useful.] 5. What amount will Beale report In its 2024 balance sheet as a net pension asset or net pension llability for the funded status of the plan? Prepare the journal entries required for the pension during 2024. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your a millions. (i.e., 10,000,000 should be entered as 10 ). Journal entry worksheet 2345 Note: Enter debits before credits. Prepare the journal entries required for the pension during 2024 . Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Journal entry worksheet Note: Enter debits before credits. Prepare the journal entries required for the pension during 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your ans millions. (i.e., 10,000,000 should be entered as 10). Journal entry worksheet 5 Record the loss on plan assets. Note: Enter debits before credits. Prepare the journal entries required for the pension during 2024 . Note: 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). Journal entry worksheet 2 5 Note: Enter debits before credits. Prepare the journal entries required for the pension during 2024 . Note: 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). Journal entry worksheet (1) 234 Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Determine the balances at December 31, 2024, in the net gain-AOCI, and prior service cost-AOCI. [Hint: You might find Taccounts useful.] Note: Enter your answers in millions. (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 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10 )
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