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Calculate the net pension cost for 2024, separating its components into appropriate categories for reporting. Note: Enter credit amounts with a minus sign and debit

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Calculate the net pension cost for 2024, separating its components into appropriate categories for reporting. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (l.e., 10,000,000 should be entered as 10 ). Prepare the journal entries to record (a) the components of net pension cost, (b) gains or losses, (c) past service cost, (d) funding, and (e) payment of benefits for 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 militions (1.e., 10,000,000 should be entered as 10). Show less A 1. Calculate the net pension cost for 2024 , separating its components into appropriate categories for reporting 2. Prepare the journal entries to record (a) the components of net pension cost, (b) gains or losses, (c) past service cost, (d) fundir and (e) payment of benefits for 2024 . 3. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability? Complete this question by entering your answers in the tabs below. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability? Note: Enter your answer in millions (1.e., 10,000,000 should be entered as 10). Electronic Distribution has a defined benefit pension pian. Characteristics of the plan during 2024 are as follows: The expected long-term rate of return on plan ossets was 8%. There were no AOCI balances related to pensions on January 1,2024 , but of the end of 2024, the company amended the pension formula, creating a prior service cost of $12 million. Assume Electronic Distribution prepares its financial statements according to International Financial Reporting Standards (IFRS). Also assume that 10% is the current interest rate on high-quality corporote bonds. Required: 1. Calculate the net pension cost for 2024 , separating its components into oppropriate categories for reporting. 2. Prepare the journal entries to record (o) the components of net pension cost. (b) gains or losses, (c) past service cost. (d) funding. and (e) poyment of benefits for 2024 3. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability

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