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Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit Obligation Balance, January 1, 2018 Service cost Interest cost, discount rate, 5% Gain due to changes in actuarial assumptions in 2018 Pension benefits paid Balance, December 31, 2018 ($ in millions) $ 400 42 20 (11) (20) $ 431 ($ in millions) $ 420 30 Plan Assets Balance, January 1, 2018 Actual return on plan assets (Expected return on plan assets, $35) Cash contributions Pension benefits paid Balance, December 31, 2018 71 (20) $ 501 ($ in millions) $ 29 January 1, 2018, balances: Pension asset Prior service cost-AOCI (amortization $4 per year) Net gain-AOCI (any amortization over 10 years) 28 82 Required: 1. to 3. Prepare the 2018 journal entry to record pension expense, to record any 2018 gains and losses and the Required: 1. to 3. Prepare the 2018 journal entry to record pension expense, to record any 2018 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2018, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI (Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2018 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Reg 5 Prepare the 2018 journal entry to record pension expense, to record any 2018 gains and losses and the contribution to plan asset benefit payments to retirees. (If no entry is required for a transaction/event, select "No journal entry required" in the first accoun Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet Record the pension expense. View transaction list Journal entry worksheet Record the pension expense. Note: Enter debits before credits. Event General Journal Debit Credit 1 No journal entry required Amortization of net gain-OCI Amortization of net loss-OCI Amortization of prior service cost-OCI Record entry Clear entry View general journal Journal entry worksheet Record the gain on PBO. Note: Enter debits before credits. Event General Journal Debit Credit 2 No journal entry required Amortization of net gain-OCI Amortization of net loss-OCI Amortization of prior service cost-OCI Record ei View general journal View transaction list Journal entry worksheet Record the loss on plan assets. Note: Enter debits before credits. Event General Journal Debit Credit 3 No journal entry required Amortization of net gain-OCI Amortization of net loss-OCI Record ei Amortization of prior service cost-OCI View general journal View transaction list Journal entry worksheet Record the funding of plan assets. Note: Enter debits before credits. Event General Journal Debit Credit 4 Show All Items No journal entry required Amortization of net gain-OCI Amortization of net loss-OCI Record ei Amortization of prior service cost-OCI View general journal View transaction list Journal entry worksheet Record the payment of benefits. Note: Enter debits before credits. Event General Journal Debit Credit 5 No journal entry required Amortization of net gain-OCI Amortization of net loss-OCI Record ei Amortization of prior service cost-OCI View general journal Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Req 5 Determine the balances at December 31, 2018, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI [Hint: You might find T-accounts useful.]. (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) Balances on Dec. 31, 2018 ($ in millions) es PBO Plan assets Net gain-AOCI Prior service cost-AOCI

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