Complete Ch 1 Part1of7 3.57 points eBook Print Refe rences .17 Problems 0 Actuary's discount rate ($ in millions) Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 2022: ($ in millions) Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 PBO $550 68 44 (3) (59) $600 PBO $600 58 48 (36) $675 Saved 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: $7 million per year) Net losspensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group $52 million $65 million 10 years 8% Plan Assets Beginning of 2021 $400 Return on plan assets, 7.5% (10% expected) 30 Cash contributions 79 Less: Retiree benefits (59) End of 2021 $450 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during Plan Assets Beginning of 2022 $450 Return on plan assets, 18% (10% expected) 81 Cash contributions 50 Less: Retiree benefits (36) End of 2022 $545 Hem SE Complete Ch. 17 Problems 0 Saved 2 Part20f7 3.57 points eBook Print References Help L J Problem 17-16 (Algo) Part 2 2. Determine the new gains and/or losses in 2021 and prepare the appropriate journal entry(s) to record them. (If no entry is required for a transaction/event. select "No journal entry required" in the rst account eld. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list View journal entry worksheet Loss - OCI Plan assets PEG 3 Gain OCI Complete Ch. 17 Problems Saved Help Sa 3 Problem 17-16 (Algo) Part 3 Part 3 of 7 3. Prepare a pension spreadsheet to assist you in determining end of 2021 balances in the PBO, plan assets, prior service cost-AOCI, the net loss-AOCI, and the pension liability. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit 3.57 amounts with a minus sign and debit amounts with a positive sign.) points Skipped ($ in millions) PBO Plan Assets Prior Service Net Loss Pension Net Pension Cost-AOCI -AOCI Expense Cash (Liability) / Asset Bal., Jan. 1, 2021 eBook Service cost Print Interest cost, 8% Expected return on assets References Loss on assets Amortization of: Prior service cost-AOCI Net loss-AOCI Gain on PBO Cash contributions Retiree benefits Bal., Dec. 31, 2021 0 0 0 0 0 0Loss (gain) on P30 5 Cash contributions 50 Less: Retiree benefits (36) Less: Retiree benefits (36) End of 2022 $545 U'I End of 2022 $67 Part 4 of 7 Problem 17-16 (Algo) Part 4 3.57 mints 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 benets to Skipped . retlrees. SW)\" Complete this question by entering your answers in the tabs below. Print References Req 4A Req 4B Determine Lakeside's pension expense for 2022. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Complete Ch. 17 Problems 0 Saved Part4of7 3.57 points Skipped eBook Print References Required information View transaction list Journal entry worksheet Record the pension expense. Note: Enter debits before credits. Record entry Clear entry View general journal Complete Ch. 17 Problems 0 Required information Part 4 of 7 View transaction list Saved Journal entry worksheet 3.57 points