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please answer all parts A company has a noncontributory, defined benefit pension plan. On December 31 of the current year (the end of the company's
please answer all parts
A company has a noncontributory, defined benefit pension plan. On December 31 of the current year (the end of the company's fiscal year), the following pension-related data were available: Required: 1. to 3. Prepare the journal entries required for the pension during the current year. 4. Determine the baiances at December 31 of the current year in the net gain-AOCl, and prior service cost-AOCl. [Hint: You might find T-accounts useful.] 5. What amount will the company report in its current year balance sheet as a net pension asset or net pension liability for the funded status of the plan? Prepare the journal entries required for the pension during the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions. (1.e., 10,000,000 should be entered as 10). Journal entry worksheet Prepare the journal entries required for the pension during the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions. (i.e., 10,000,000 should be entered as 10 ). Journal entry worksheet 5 Note: Enter debits before credits. Prepare the joumal entries required for the pension during the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter your answers in millions. (1.e., 10,000,000 should be entered as 10 ). Journal entry worksheet Note: Enter debits before credits. Prepare the fournal entries required for the pension during the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Journal entry worksheet Step by Step Solution
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