image of three questions provided

Jan 1st,2025: Enrique Iglesias is an employee of Bailando Inc. He has been workingthere since Jan Isb2020and currentlyearn? $150,000 annually. His salaryat retirement on Dec 81st, 2044 is expected to be $350,000. Actuaries estimate that he will collect retirement benefits for20 years post-retirement, His annual retiremen+ benefit amount is calculated using2%times the numberofyears of service times final-year salary. ii 980000 1120000 1260000 1400000 1540000 1680000 5234131 610648 End of the fiscal year Years of service Salary at retirement Percentage Reti rement pay Retirement years Interest rate Total Retirement Pay PV(RetirementPay) 2044 PV(RetirementPay) at date PBO (Liability) Increase in PBO Interest Cost Service Cost Expected return (assume 7%) Pension Expense Actual Return (for Q2 only) 2020 850000 0.02 7000 20 0.05 140000 87285.5 27048.9 27048.9 27048.9 o 27048.9 27048.9 2021 850000 0.02 14000 20 0.05 280000 174471 56802.7 56802.7 29758.8 1852.45 28401.4 1898.42 27860.4 189842 2022 350000 0.02 21000 20 0.05 420000 261706 89464.3 89464.8 82661.6 2840.14 29821.4 8976.19 28685.4 8976.19 2023 350000 0.02 28000 20 0.05 560000 848942 125250 125250 85785.7 447822 818125 62625 29523.2 62625 2024 350000 0.02 85000 20 0.05 700000 486177 164391 164891 89140.6 6262.5 82878.1 8767.5 80878.1 -12525 20251 350000} 0.021 420001 201 0.051 8400001 2026 850000 0.02 49000 20 2027 850000 0.02 56000 20 0 05 697884 304484 304484 507474 ii26868 88060.5 17761.6 32985.8 2028 850000 0:02 68000 20 6.05 785119 859672 659672 551878 15224.2} 38878.9 2080 2031 2029 12 11 10 350000 350000 350000 0.02 70000 20 0105 II 872355 419618, 419618 59945.4 17988.6 1611e 25177.1 84768.0 II 251741 0102 77000 20 0.05 84000 20 0.05 959590 1046826 2071821' 058787 2071821 253737: 42741.6/ 46604.8 82191581; 10356.6 3452211 86248.1 11507.g!fi1Ugg.3 312342! 821055 484658 484658 65040.7 20980.9 44059,8 298+82 356675 298782 555154 555154 704957 24282.9 462628 33926.1 86569.7 33926.1, NotethatQ2 and Q8 are independent of each other. They both build from QI, but uSe!hefacts; (rum Q2t9 GnswerQ Question 1: Record all journal entries between End of Year 2020 and End of Year 2024 giyen the soldit;onabov Question2:Assumethatintheyear2024, Bailandolnc,ls Pension plan incurred a major loss,Thatis, the actual etui! was,nof 0/6, bu 'r, her 10%. Record thejournal entryforthis loss and how itis accounted for, Further explain what has happnec! in ter So 5 Question 8:F0110wingfromQuestion 1 question), entpay. r, 6' percentage. That is.an employeewould earn their retirement pay using8% *Years of Service * Final Yea Final Year Salary. This change occurs at the end of year2024 and is applied retrospectively, Record thejournalentryfor Ipis 18 formula forthe year ended 2024. Additionally, record any entries tobe macle to Comprehensive income,