Discount rate, $6\%$

$($ $ in thousands$)$

Expected return on plan assets, $9\%$

Actual return on plan assets, $8\%$

Service cost, $2024$

$$450$

January $1,2024$:

Projected benefit obligation

$3,000$

Accumulated benefit obligation

$2,700$

Plan assets $($fair value$)$

Prior service cost$-$ AOCI $(2024$ amortization, $$35)$

Net gain$-$ AOCI $(2024$ amortization, $$10)$

There were no changes in actuarial assumptions.

December $31,2024$ :

Cash contributions to pension fund, December $31,2024385$

Benefit payments to retirees, December $31,2024410$

Required:

Determine pension expense for $2024.$

Prepare the journal entries to record $($a$)$ pension expense, $($b$)$ gains and losses $($if any$),($c$)$ funding, and $($d$)$ retiree benefits for $2024.$

Complete this question by entering your answers in the tabs below.

Required $2$

Prepare the journal entries to record $($a$)$ pension expense, $($b$)$ gains and losses $($if any$),($c$)$ funding, and $($d$)$ retiree 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

thousands rounded to $1$ decimal place $($i$.$e$.,5,500$ should be entered as $5\mathrm{.}5).$

Journal entry worksheet