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Required Information (The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PUO and plan assets
Required Information (The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PUO and plan assets of Lakeside Cable during 202t Prior maxvice coat at Jam. 1, 2011, from plan amendment at the beginning of 2019 (amortization: $7 million pas year! $52 million Mut loan-ponzices at Jan.1, 2021 (previous lomama exceeded previous gains] $85 million Average summining asevies life of the active angloyes group 10 JAMES Actory's discount cats (# in millions] Plan Maginning of 2421 $550 Beginning of 2021 $40D Service cost Return on plan anauts, Interest cost, It 44 7. 50 (10% expected) 30 Lone (quin) on FBO Cash contributions Loom: Batican bamatits Loss: Ratican bamatits End of 2021 $GOD End of 2021 $450 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022- ($ in millions) Plan Asaute Waginning of 2422 $400 Beginning of 2022 $450 Garviea cost Haturn on plan amata. Interest cost, It 48 18% (101 mxpected) Loss (quin] on PRO 5 Cash contributions SD Loom: Baticon bamatits Laws: Retires buntits 1361 And of 2022 $675 End of 2422 $549 4-a. Determine Lakeside's pension expense for 2022. 4-b. Prepare the appropriate journal entries to record the expense, the cash funding of plan assets, and payment of benefits to retirees Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 604 44 Reg 48 Prepare the appropriate journal entries to record the expense, the cash funding of plan assets, and payment of benents to retirees. [If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your arawers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).] No Trumauction Oanoral Journal Dabit Crocit Pansion expense Plan assets 450 0 Amortization of prior service cost - OCI PBO Amortization of net loss - OCI 04 0 2 Plan assat 50 0 Cash PBO Plan assets
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