Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Laure Conny 2025 ($ in millions) Beginning of 2025 Service cost Interest cost, 10% Loss (gain) on PB0 Less: Retiree benefits End of 2025 Show Transcribed Text ($ in millions) Balance, January 1, 2024 Service cost Interest cost, 10% Expected return on assets Loss on assets Amortization of PBO $ 420 45 Prior service cost-AOCI Not loss-AOGL 5 (23) PBO $ 409 3. Prepare a pension spreadsheet to assist you in determining end of 2024 balances in the PBO, plan assets, prior service cost-AOCI the net loss-AOCI, and the pension liability, Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign. Beginning of 2025 Return on plan assets, 16% (10%) expected) Cash contributions s Less: Retiree benefits End of 2025 Plan Assets Required information Note: Enter your answers in minions (Le., u,uuu,uuu snouia de entered as 10). Enter creart amounts with a minus sign and dedit amounts with a positive sign. 2 C Plan Assets $ 250 Prior Service Net Loss Cost-AOCI -AOCI 40 37 (23) $ 304 Pension Expense Cash Net Pension (Liability) or Asset
Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Laure Conny 2025 ($ in millions) Beginning of 2025 Service cost Interest cost, 10% Loss (gain) on PB0 Less: Retiree benefits End of 2025 Show Transcribed Text ($ in millions) Balance, January 1, 2024 Service cost Interest cost, 10% Expected return on assets Loss on assets Amortization of PBO $ 420 45 Prior service cost-AOCI Not loss-AOGL 5 (23) PBO $ 409 3. Prepare a pension spreadsheet to assist you in determining end of 2024 balances in the PBO, plan assets, prior service cost-AOCI the net loss-AOCI, and the pension liability, Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign. Beginning of 2025 Return on plan assets, 16% (10%) expected) Cash contributions s Less: Retiree benefits End of 2025 Plan Assets Required information Note: Enter your answers in minions (Le., u,uuu,uuu snouia de entered as 10). Enter creart amounts with a minus sign and dedit amounts with a positive sign. 2 C Plan Assets $ 250 Prior Service Net Loss Cost-AOCI -AOCI 40 37 (23) $ 304 Pension Expense Cash Net Pension (Liability) or Asset
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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