Required information

Problem $17-16(Algo)$ Comprehensive$-$reporting a pension plan; pension spreadsheet;

determine changes $in$ balances; two years $[LO17-3,17-4,17-5,17-6,17-7,17-8]$

$[The$ 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 $2021$:

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

beginning $of2019(amortization$: $$6$ million per year$)$

Net loss$-$pensions $at$ Jan$\mathrm{.}1,2021(previous$ losses exceeded previous gains$)$

Average remaining service life $of$ the active employee group

Actuary's discount rate

$($$ $in$ millions$)$

Assume the following actuary and trustee reports indicating changes $in$ the PBO and plan assets $of$

Lakeside Cable during $2022$:

$($$ $in$ millions$)$

Problem $17-16(Algo)$ Part $1$

Required:

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

$1-b.$ 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.