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I only need Req 2 Check my work Pension data for Barry Financial Services Inc. include the following: (5 in thousands $ 390 Discount rate,
I only need Req 2
Check my work Pension data for Barry Financial Services Inc. include the following: (5 in thousands $ 390 Discount rate, 7% Expected return on plan assets, 9% Actual return on plan assets, 85 Service cost, 2021 January 1, 20211 Projected benefit obligation Accumulated benefit obligation Plan assets (fair value Prior service Cost-AOCT (2021 amortization, $35) Net gair-AOCI (2021 amortization, $81 There were no changes in actuarial assumptions. December 31, 2021: Cash contributions to pensiun fund, December 31, 2021 Benefit payments to retireen, December 31, 2021 2,700 2.400 2.900 365 410 325 350 Required: 1. Determine pension expense for 2021. 2. Prepare the journal entries to record (a) pension expense. (b) gains and losses (if any). (c) funding, and (d) retiree benefits for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for 2021. (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 5.5).) View transaction list Journal entry worksheetStep by Step Solution
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