Complete Ch. 17 Problems A Saved Help SE 1 Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021: Part 1 of 7 1 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $7 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 $52 million $65 million 10 years 8% 3.57 points ($ in millions) eBook Plan Assets $400 Print References Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $550 Beginning of 2021 68 Return on plan assets, 44 7.5% (10% expected) (3) Cash contributions (59) Less: Retiree benefits $600 End of 2021 30 79 (59) $450 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: ($ in millions) Plan Assets $450 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 PBO $600 58 48 5 (36) $675 Beginning of 2022 Return on plan assets, 18% (10% expected) Cash contributions Less: Retiree benefits End of 2022 81 50 (36) $545 Complete Ch. 17 Problems i Saved Help 6 LCD. ITCLLICC UCHICILLS End of 2022 $675 LCD. INCLII CC VCHICIILO End of 2022 $545 Part 6 of 7 Problem 17-16 (Algo) Part 6 3.57 points 6. Using T-accounts, determine the balances at December 31, 2022, in the net loss-AOCI and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Skipped Net Loss-AOCI Bal. Jan. 1 eBook Print References Bal. Dec. 31 Prior Service Cost-AOCI Bal. Jan. 1 Bal. Dec. 31 Complete Ch. 17 Problems a Saved Help Save & Exit Submit Check my work 7 Problem 17-16 (Algo) Part 7 Part 7 of 7 7. Prepare a pension spreadsheet to assist you in determining end of 2022 balances in the PBO, plan assets, prior service cost-AOCI, the net loss-AOCI, and the pension liability. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign.) a 3.58 points Skipped ($ in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash Net Pension (Liability) Asset eBook Print References 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 0.0 0.0 0.0 0.0 0.0 0.0 Complete Ch. 17 Problems A Saved Help SE 1 Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021: Part 1 of 7 1 Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $7 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 $52 million $65 million 10 years 8% 3.57 points ($ in millions) eBook Plan Assets $400 Print References Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 PBO $550 Beginning of 2021 68 Return on plan assets, 44 7.5% (10% expected) (3) Cash contributions (59) Less: Retiree benefits $600 End of 2021 30 79 (59) $450 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: ($ in millions) Plan Assets $450 Beginning of 2022 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2022 PBO $600 58 48 5 (36) $675 Beginning of 2022 Return on plan assets, 18% (10% expected) Cash contributions Less: Retiree benefits End of 2022 81 50 (36) $545 Complete Ch. 17 Problems i Saved Help 6 LCD. ITCLLICC UCHICILLS End of 2022 $675 LCD. INCLII CC VCHICIILO End of 2022 $545 Part 6 of 7 Problem 17-16 (Algo) Part 6 3.57 points 6. Using T-accounts, determine the balances at December 31, 2022, in the net loss-AOCI and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Skipped Net Loss-AOCI Bal. Jan. 1 eBook Print References Bal. Dec. 31 Prior Service Cost-AOCI Bal. Jan. 1 Bal. Dec. 31 Complete Ch. 17 Problems a Saved Help Save & Exit Submit Check my work 7 Problem 17-16 (Algo) Part 7 Part 7 of 7 7. Prepare a pension spreadsheet to assist you in determining end of 2022 balances in the PBO, plan assets, prior service cost-AOCI, the net loss-AOCI, and the pension liability. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign.) a 3.58 points Skipped ($ in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash Net Pension (Liability) Asset eBook Print References 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 0.0 0.0 0.0 0.0 0.0 0.0