Problem 17-16 (Algo) Part 1

Required: 1-a. Determine Lakesides pension expense for 2021. 1-b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees.

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 : (\$ in milions) Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: (\$ in milions) Required: 1-a. Determine Lakeside's pension expense for 2021