Homework: Week Three Out and In, Ltd. provided you with the following information regarding its defined-benefit pension plan. (Click the icon to view the information.) Read the requirements. Question 21, E19-9 (similar to) Part 1 of 15 HW Score: 14.32%, 3.15 of 22 points Points: 0 of 1 Save Requirement a. Prepare the separate "conceptual" journal entries for the preceding relevant information. (Abbreviation used: OC is required select "No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank.) Begin by preparing the required conceptual journal entry, if any, for service costs for the current year. More info Account Help n Requirements Current Year a. Prepare the separate "conceptual" journal entries for the preceding relevant information. b. Compute the total pension cost for the year. c. Determine the ending balances of the plan assets and the projected benefit obligation and indicate the funded status of the plan. d. Prepare the journal entry to record the current year's pension cost. Beginning plan assets at fair value (market-related value), $610,000 Beginning projected benefit obligation (PBO), $500,000 Service cost for the year, $125,000 Settlement rate, 6% Expected return on plan assets, 5% Actual return on plan assets, $23,400 loss Contributions for the year, $40,900 Benefit payments for the year, $90,000 Beginning accumulated other comprehensive income, $45,000 (due to unamortized net actuarial gains) Prior service costs awarded during the year (not effective as of the beginning of the year) for vested employees, $19,000 Amortization of prior service costs, $6,500 Decrease in the ending projected benefit obligation due to changes in actuarial assumptions (i.e., actuarial gain), $6,000 Average remaining service life of the employee base, 10 years no entry nswer