Required information [The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $450 Beginning of 2021 61 Return on plan assets, 36 7.5% (10% expected) (2) Cash contributions (45) Less: Retiree benefits $500 End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 PBO $500 54 40 5 (32) $567 Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 56 46 (32) $470 5. Determine the new gains and/or losses in 2022. and prepare the appropriate journal entry(s) to record them. (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).) View transaction List Journal entry worksheet 1 2 > Record the losses. tuote: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Required information [The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $450 Beginning of 2021 61 Return on plan assets, 36 7.5% (10% expected) (2) Cash contributions (45) Less: Retiree benefits $500 End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) PBO Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 $500 54 40 Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 (32) $567 56 46 (32) $470 5. Determine the new gains and/or losses in 2022, and prepare the appropriate journal entry(s) to record them (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).) View transaction list Journal entry worksheet Record the gains. tiate Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $450 Beginning of 2021 61 Return on plan assets, 36 7.5% (10% expected) (2) Cash contributions (45) Less: Retiree benefits $500 End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 (S in millions) PBO Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 $500 54 40 5 (32) $567 Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 56 46 (32) $470 6. Using T-accounts, determine the balances at December 31, 2022, in the net loss-AOCl and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Net Loss-AOCI Bal Jan 1 Bal Dec 31 Prior Service Cost-AOCI Ba Dec 31 Required information (The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) PBO Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 $450 61 36 (2) (45) $500 Beginning of 2021 Return on plan assets, 7.5% (10% expected) Cash contributions Less: Retiree benefits End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) PBO Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 $500 54 40 5 (32) Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 56 46 (32) $470 $567 7. Prepare a pension spreadsheet to assist you in determining end of 2022 balances in the PBO. plan assets, prior service cost-AOCI. the net loss-AOCI, and the pension liability (Enter your answers in millions rounded to 1 decimal place (i.e., 5.500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign.) (s in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash Pension (Liability) Asset Bal Jan 1.2022 Service cost Interest cost 8% Expected return on assets Gain on assets Amortization of Prior service cost-AOCI Net loss-AOCI Loss on PBO Cash contributions Retiree benefits Bal Dec 31 2022 Required information [The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $450 Beginning of 2021 61 Return on plan assets, 36 7.5% (10% expected) (2) Cash contributions (45) Less: Retiree benefits $500 End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 PBO $500 54 40 5 (32) $567 Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 56 46 (32) $470 5. Determine the new gains and/or losses in 2022. and prepare the appropriate journal entry(s) to record them. (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).) View transaction List Journal entry worksheet 1 2 > Record the losses. tuote: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Required information [The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $450 Beginning of 2021 61 Return on plan assets, 36 7.5% (10% expected) (2) Cash contributions (45) Less: Retiree benefits $500 End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) PBO Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 $500 54 40 Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 (32) $567 56 46 (32) $470 5. Determine the new gains and/or losses in 2022, and prepare the appropriate journal entry(s) to record them (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).) View transaction list Journal entry worksheet Record the gains. tiate Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $450 Beginning of 2021 61 Return on plan assets, 36 7.5% (10% expected) (2) Cash contributions (45) Less: Retiree benefits $500 End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 (S in millions) PBO Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 $500 54 40 5 (32) $567 Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 56 46 (32) $470 6. Using T-accounts, determine the balances at December 31, 2022, in the net loss-AOCl and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Net Loss-AOCI Bal Jan 1 Bal Dec 31 Prior Service Cost-AOCI Ba Dec 31 Required information (The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $48 million $75 million 10 years 8% ($ in millions) PBO Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 $450 61 36 (2) (45) $500 Beginning of 2021 Return on plan assets, 7.5% (10% expected) Cash contributions Less: Retiree benefits End of 2021 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022 ($ in millions) PBO Plan Assets $400 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 $500 54 40 5 (32) Beginning of 2022 Return on plan assets, 14% (10% expected) Cash contributions Less: Retiree benefits End of 2022 56 46 (32) $470 $567 7. Prepare a pension spreadsheet to assist you in determining end of 2022 balances in the PBO. plan assets, prior service cost-AOCI. the net loss-AOCI, and the pension liability (Enter your answers in millions rounded to 1 decimal place (i.e., 5.500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign.) (s in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash Pension (Liability) Asset Bal Jan 1.2022 Service cost Interest cost 8% Expected return on assets Gain on assets Amortization of Prior service cost-AOCI Net loss-AOCI Loss on PBO Cash contributions Retiree benefits Bal Dec 31 2022