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A partially completed pension spreadsheet showing the relationships among the elements that constitute Carney, Incorporated's Req $1$

Fill in the missing amounts.

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.

$\backslash$table$[[($$ in millions$),$PBO,Plan Assets,$\backslash$table$[[$Prior$],[$Service$],[$Cost$-$AOCI$]],\backslash$table$[[$Net Loss$-],[$AOCI$]],\backslash$table$[[$Pension$],[$Expense$]],$Cash,$\backslash$table$[[$Net Pension$],[($Liability$)$ or$],[$Asset$]]],[$Balance$,$ January $1,2024,(920),840,35,102,,,(80)],[$Service cost$,,,,,88,,],[$Interest cost$],[$Expected return on assets$],[$Adjust for:$],[$Loss on assets,,$(6),,,,,],[$Amortization of:$],[$Prior service cost$],[$Net loss$],[$Loss on PBO,,,,,,,$(22)],[$Prior service cost$],[$Cash funding,,,,,,,$87],[$Retiree benefits$],[$Balance$,$ December $31,2024,,780,,,,,]]$ Prepare the $2024$ journal entry to record pension expense.

Prepare the journal entry$($s$)$ to record any $2024$ gains and losses and new prior service cost in $2024.$

Prepare the $2024$ journal entries to record $($a$)$ the cash contribution to plan assets and $($b$)$ the payment of retiree benefits.

Note: If no entry is required 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 $10).$

Journal entry worksheet

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Note: Enter debits before credits.

defined benefit pension plan follows. Six years earlier, Carney revised its pension formula and recalculated benefits earned by

employees in prior years using the more generous formula. The prior service cost created by the recalculation is being amortized at

the rate of $$6$ million per year. At the end of $2024,$ the pension formula was amended again, creating an additional prior service cost of

$$55$ million. The expected rate of return on assets and the actuary's discount rate were $10\%,$ and the average remaining service life of

the active employee group is $10$ years.

Required:

Fill in the missing amounts.

Prepare the $2024$ journal entry to record pension expense.

Prepare the journal entry$($s$)$ to record any $2024$ gains and losses and new prior service cost in $2024.$

Prepare the $2024$ journal entries to record $($a$)$ the cash contribution to plan assets and $($b$)$ the payment of retiree benefits.

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

Fill in the missing amounts.

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.

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