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Can you help with this? Actuary and trustee reports indicate the iollowing changes in the P80 and plan assets of Douglas-Roberts Industries during 2021: Prior
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Actuary and trustee reports indicate the iollowing changes in the P80 and plan assets of Douglas-Roberts Industries during 2021: Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2018 (amortization: $2 million per year} $ 14 11.11110\" Net lossAOCI at Jan.1, 2021 [previous losses exceeded previous gains} $150 million Average remaining service life of the active employee group 10 years Actuary's discount rate 7 % {$ in millions} Plan _ _ PBO . . BsSets Beginning of 2021 $900 Beginning of 2021 $T00 Service cost 52 Return on plan assets, 3% (10% expected} 56 Interest cost, 7% 63 Loss {gain} on P130 (10} Cash contributions 9'? Less: Retiree benefits (31} Less: Retiree benefits l31} End of 2021 $974 End of 2021 $822 Required: 1-a. Determine DouglasRoberts's pension expense for 2021. Ha, I 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 benets. \fRecord annual pension expense. Record the change in plan assets. Record the change in the PEG. Record the cash contribution to plan assets. Record the retiree benets paid. \\\\\\\\.\\Step by Step Solution
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