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Prepare the journal entries required for the pension during 2024 . Note: If no entry is required for a transaction/event, select No journal entry required
Prepare the journal entries required for the pension during 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). Journal entry worksheet Note: Enter debits before credits. What amount will Beale report in its 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Determine the balances at December 31,2024, in the net gain-AOCI, and prior service cost-AOCI. [Hint: You might find Taccounts useful.] Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024 (the end of Beale's fiscal year), the following pension-related data were available: Required: 1. to 3. Prepare the journal entries required for the pension during 2024. 4. Determine the balances at December 31, 2024, in the net gain-AOCl, and prior service cost-AOCl. [Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan
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