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please, solve the question and correct them. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record (a)
please, solve the question and correct them.
Complete this question by entering your answers in the tabs below. Prepare the journal entries to record (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (c) payment of benefits for 2024 . 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). Show less A Journal entrv worksheat Electronic Distribution has a defined benefi pension plan. Characteristics of the plan during 2024 are as follows: The expected long-term rote of return on plan assets was 6%. There were no AOCI balances related to pensions on January 1.2024 , but at the end of 2024 , the company amended the pension formulo, creating o prior service cost of $19 milion. Required: 1. Calculato the pension expense for 2024 . 2. Prepare the journal entries to record (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (e) payment of benefits for 2024 3. What amount will Electronic Oistribution report in its 2024 balance sheet as a net pension asset or net pension liability? Complete this question by entering your answers in the tabs below. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liabilaty? Note: Enter your answer in mibons (L.e., 10,000,000 should be entered as 10). Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2024 are as follows: The expected long-term rate of return on plan assets was 6%. There were no AOCI balances related to ponsions on January 1, 2024, but at the end of 2024, the company amended the ponsion formula, creating a prior servico cost of $19 million. Required: 1. Calculate the pension expense for 2024. 2. Prepare the journal entries to record (o) pension expense, (b) gains or losses, (c) prior sorvice cost, (d) funding, and (e) poyment of benefits for 2024 3. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability? Complete this quention by entering your answers in the tabs below. Calculate the pension expense for 2024 Note: Amounts to be deducted shovid be indcated with a minus sign. Enter your answers in mulions (1.e, 10,000,000 should be entered as 10) Step by Step Solution
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