Need the answer to this accounting question
SeCampus: Program Content Connect X f Messenger | Facebook C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhep... G ili Apps f Facebook Bookmarks MovieTube | Watc.. Virtual Job Scout The 3-Bet | How T... D #01 The Strongest... > Other Bookmarks Wk 3 - Apply: Homework [due day 7] Saved Help Save & Exit Submit Check my work 2 Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: 25 Projected Benefit Obligation ($ in millions) points Balance, January 1, 2021 $ 420 Service cost 44 Skipped Interest cost, discount rate, 5: 21 Gain due to changes in actuarial assumptions in 2021 12 Pension benefits paid (21 Balance, December 31, 2021 $ 452 eBook Hint Plan Assets ($ in millions) Print Balance, January 1, 2021 $ 440 Actual return on plan assets 31 References (Expected return on plan assets, $36) Cash contributions 72 Pension benefits paid (21) Balance, December 31, 2021 $ 522 January 1, 2021, balances: ($ in millions) Pension asset $ 20 Prior service cost-AOCI (amortization $5 per year) 35 Net gain-AOCI (any amortization over 10 years) 84 Required: 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI [Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Mc Graw SeCampus: Program Content Connect X f Messenger | Facebook C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhep.. G ili Apps f Facebook Bookmarks MovieTube | Watc.. Virtual Job Scout The 3-Bet | How T... D #01 The Strongest... > Other Bookmarks Wk 3 - Apply: Homework [due day 7] Saved Help Save & Exit Submit Check my work 2 Req 1 to 3 Req 4 Req 5 Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 25 Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) points View transaction list Skipped XI eBook Hint 1 Record the pension expense. Print Record the gain on PBO. References 3 Record the loss on plan assets. 4 Record the funding of plan assets. Record the payment of benefits. Credit Note : = journal entry has been entered Record entry Clear entry View general journal Mc Graw SeCampus: Program Content Connect X f Messenger | Facebook C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhep... G ili Apps f Facebook Bookmarks MovieTube | Watc. Virtual Job Scout The 3-Bet | How T... D #01 The Strongest... > Other Bookmarks Wk 3 - Apply: Homework [due day 7] Saved Help Save & Exit Submit Check my work 2 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI [Hint: You might find T-accounts useful.] 25 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the points plan? Skipped Complete this question by entering your answers in the tabs below. eBook Req 1 to 3 Req 4 Hint Req 5 Print Determine the balances at December 31, 2021, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI References [Hint: You might find T-accounts useful.]. (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) Balances on Dec. 31, 2021 ($ in millions) PBC Plan assets Net gain - AOCI Prior service cost - AOCI Req 1 to 3 Req 5 > = Mc Graw SeCampus: Program Content Connect X f Messenger | Facebook C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhep.. G ili Apps f Facebook Bookmarks MovieTube | Watc. Virtual Job Scout The 3-Bet | How T... D #01 The Strongest.. > Other Bookmarks Wk 3 - Apply: Homework [due day 7] i Saved Help Save & Exit Submit Check my work 2 Required: 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 25 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI [Hint: You points might find T-accounts useful.] 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the Skipped plan? eBook Complete this question by entering your answers in the tabs below. Hint Print Req 1 to 3 Reg 4 Req5 References What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan? (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) Balance Sheet as of 2021 million Req 4 Req 5 > Mc Graw
