Question: please use a table for answers pls help Required information The following information applies to the questions displayed below] Actuary and trustee reports indicate the
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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 PBO and plan assets of Lakeside Cable during 2024 Prion service cost at January 1, 2024, from plan anendent at the beginning of 2022 (anortization: 35 million per year) Net loss pensions at lanuary 1 , 2024 (previous losses exceeded previous gains) Average recaining service life of the active enployee group Actuary's discount rate 543million550million16years75 (s in miltions) Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025 (s in malions) Required: 1-a. Determine Lakesides pension expense for 2024 1-b. Prepore the approptiate joumal entries to record the expense os well as the cash contribution to plan assets and payment of benefits to retirees. Required: 1-a. Determine Lakeside's pension expense for 2024 1-b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees. Complete this question by entering your answers in the tabs below. Determine Lakeside's pension expense for 2024 Determine Lakeside's pension expense for 2024 . be ertered as 10). (1) Pecord the pension expense. (2) Record funding to plan assets. 3 Record the payment of benefit to retirees. Note : P= journal entry has been entered Gredit 2. Determine the new gains andlor losses in 2024 and prepare the appropriate joumal entry(s) to record them Note: If no entry is recuired 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 ). 1 Record gain or loss on plan assets. 2. Reccord gain or loss on PBO. Note : B= journal entry has been entered Credit 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 2024 Prion service cost at January 1, 2024, from plan anendent at the beginning of 2022 (anortization: 35 million per year) Net loss pensions at lanuary 1 , 2024 (previous losses exceeded previous gains) Average recaining service life of the active enployee group Actuary's discount rate 543million550million16years75 (s in miltions) Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025 (s in malions) Required: 1-a. Determine Lakesides pension expense for 2024 1-b. Prepore the approptiate joumal entries to record the expense os well as the cash contribution to plan assets and payment of benefits to retirees. Required: 1-a. Determine Lakeside's pension expense for 2024 1-b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees. Complete this question by entering your answers in the tabs below. Determine Lakeside's pension expense for 2024 Determine Lakeside's pension expense for 2024 . be ertered as 10). (1) Pecord the pension expense. (2) Record funding to plan assets. 3 Record the payment of benefit to retirees. Note : P= journal entry has been entered Gredit 2. Determine the new gains andlor losses in 2024 and prepare the appropriate joumal entry(s) to record them Note: If no entry is recuired 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 ). 1 Record gain or loss on plan assets. 2. Reccord gain or loss on PBO. Note : B= journal entry has been entered Credit
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