Exercise 17-19 (Algo) Record pension expense, funding, and gains and losses; financial statement effects [LO17-6, 17-7, 17-8] 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 journal 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 liability for the funded status of the plan? 1 Record the pension expense. 2 Record the gain on PBO. 3 Record the loss on plan assets. 4 Record the funding of plan assets. 5 Record the payment of benefits. Exercise 17-19 (Algo) Record pension expense, funding, and gains and losses; financial statement effects [LO17-6, 17-7, 17-8] 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 journal 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 liability for the funded status of the plan? 1 Record the pension expense. 2 Record the gain on PBO. 3 Record the loss on plan assets. 4 Record the funding of plan assets. 5 Record the payment of benefits