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Ithe rollowing intormation appiles to the questions dispiayed below. Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside
Ithe rollowing intormation appiles to the questions dispiayed below. Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2024 : prior betvice cost at January 1, 2024, froh plan asendrent at the beginning of 2022 (amoreizations $6 mililion per year) $42 miliion Net Losh-pensions at Janusty 2, 2024 (previous lostes exceoded previoul gains) $60 tilition Average remaining nervice life of the active enployee group Actuary's ascount rate to years as (\$ in millions) Assume the following actuary and trustee reports indicating changes in the PBo and plan assets of Lakeside Cable during 2025: ( $ in millions) Required: -a. Determine Lakes de's pension expense for 2024. b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of behefits to retirees. Complete this question by entering your answers in the tabs below. Determine Lakeside's pension expense for 2024. Note. Amounts to be deducted should be indicated with a min us sign finter vour answers in millions (1.e., 10,000,000 should be entered as 10 )
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