https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fvle.phoenix.edu%252Fwel pply: Summative Assessment [due Day 7] i 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: $5 million per year) Net loss-AOCI at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate ($ in millions) Beginning of 2021 Service cost PBO Interest cost, 7% Loss (gain) on PBO Less: Retiree benefits End of 2021 $ 600 46 Plan Assets Beginning of 2021 Return on plan assets, 8% (10% expected) 42 (18) Cash contributions (28) Less: Retiree benefits $642 End of 2021 $ 400 Complete this question by entering your answers in the tabs below. 32 94 (28) Saved $498 $35 million $120 million 10 years 7% 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.
