Exercise 17-16 (Algo) Determine and record pension expense and gains and losses; funding and retiree benefits [LO17-6, 17-7) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2021: Prior service coat at Jan. 1, 2021, from plan amendinant at the beginning of 2018 (amortization: $5 million per year) Not lon-OCT at Jan. 1, 2021 (previous loans exceeded previous gain) Average remaining wervice life of the active employee group Actuary's discount rate $ 35 million $180 million 10 years 15 in millones PRO Beginning of 2021 Service cost $ 600 Dan Aasta $800 Beginning of 2021 58 Return on plants 86 (100 expected) 56 (13) Canh Detribution (24) Los Retire benefits $862 End of 2021 100 Interest cont, 70 Lou (gain) on PBO Toast Retiree benefits Biod of 2021 $714 Required: 1-a. Determine Douglas-Roberts's pension expense for 2021 1-6, 2. 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 benefits, Complete this question by entering your answers in the tabs below. Req 1A Red 15 and 2 to 4 Service cont 58 Return on plan www 48 (10% expected) 48 Intarunt cost, 78 Tons (gain) on PRO Lo Retiree benefits And of 2021 56 (13) (36) $867 Cash contributions Los Retiros benefits 100 (34) 3714 End of 2021 Required: 1-a. Determine Douglas-Roberts's pension expense for 2021, 1-6, 2. to 4. Prepare the appropriate journal entries to record the pension expense, to record any 2021 gains and losses, to record th- cash contribution to plan assets and to record retiree benefits. Complete this question by entering your answers in the tabs below. Req 1A Req 18 and 2 to 4 Determine Douglas-Roberts's pension expense for 2021. (Amounts to be deducted should be indicated with a minus sign Enter your answers in millions (.e., 10,000,000 should be entered as 10).) Penafon Expanse Pension expense Reyna Req 1 and 2 to 4 > Prepare the appropriate Joumal entries to record the pension expense, contribution to plan assets and to record retiree benefits. (If no entry is required for a transaction/event, sele required in the first account field. Enter your answers in millions (1.6., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet Record annual pension expense. Note: Enter debits before credits Goneral Journal Dobit Credit Evont 1 Record entry Clear entry View general Journal Prepare the appropriate journal entries to record the pension expense, to record any 2021 gains and loss contribution to plan assets and to record retiree benefits. (If no entry is required for a transaction/event, required in the first account fleld. Enter your answers in millions (l.e., 10,000,000 should be entered as View transaction list Journal entry worksheet Record the change in the PBO. Note: Enter debits before credits Event General Journal Dobit Credit 3 Record entry Clear entry View general Journal to 4 Prepare the appropriate foumal entries to record the pension expense, to record any 2021 gains and losses, to rec contribution to plan assets and to record retiree benefits. (if no entry is required for a transaction/event, select "N required in the first account field. Enter your answers in millions (1.e. 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet 2 3 3 4 Record the retiree benefits pald. Note: Enter debits before credits Evont Guneral Journal Dobit Credit 5 Record entry Clear entry View general Journal
