Exercise $17-16($Algo$)$ Determine and record pension expense and gains and losses; funding and retiree benefits $[$LO$17-6,17-7]$

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas$-$Roberts Industries during $2021$:

Prior service cost at Jan. $1,2021,$ from plan amendment at the

beginning of $2018($amortization: $$2$ million per year$)$ $ $14$ million

Net loss$$AOCI at Jan$\mathrm{.}1,2021($previous losses exceeded previous gains$)$ $ $90$ million

Average remaining service life of the active employee group $10$ years

Actuary's discount rate $7\%$

$($$ in millions$)$ Plan

PBO Assets

Beginning of $2021$ $ $700$ Beginning of $2021$ $ $500$

Service cost $40$ Return on plan assets,

$8\%(10\%$ expected$)40$

Interest cost, $7\%49$

Loss $($gain$)$ on PBO $(15)$ Cash contributions $91$

Less: Retiree benefits $(25)$ Less: Retiree benefits $(25)$

End of $2021$ $ $749$ End of $2021$ $ $606$

Required:

$1-$a$.$ Determine Douglas$-$Roberts's pension expense for $2021.$

$1-$b$,2.$ to $4.$ Prepare the appropriate journal entries to record the pension expense, to record any $2021$ gains and losses, to record the cash contribution to plan assets and to record retiree benefits.Required:

$1-$a$.$ Determine Douglas$-$Roberts's pension expense for $2021.$

$1-$b$,2.$ to $4.$ Prepare the appropriate journal entries to record the pension expense, to record any $2021$ gains and losses, to rec

cash contribution to plan assets and to record retiree benefits.

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Req$1A$

Req$1B$ and $2$

to $4$

Determine Douglas$-$Roberts's pension expense for $2021.($Amounts to be deducted should be indicated with a minus sign. Enter

your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).)$glas$-$Roberts's pension expense for $2021.$

the appropriate journal entries to record the pension expense, to

ins and losses, to record the cash contribution to plan assets and to

fits.

Answer is not complete.

uestion by entering your answers in the tabs below.

LB and $2$

:$04$

riate journal entries to record the pension expense, to record any $2021$ gains and losses, to recor

o plan assets and to record retiree benefits. $($If no entry is required for a transaction$/$event$,$ select

red" in the first account field. Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered a: