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Beale Management has a noncontributory, defined benefit pension plan. On December 31,2024(the end of Beale's...

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Accounting

Beale Management has a noncontributory, defined benefit pension plan. On December 31,2024(the end of Beale's fiscal year), the following pension-related data were avallable:
Required:
1. to 3. Prepare the journal entries required for the pension during 2024.
4. Determine the balances at December 31,2024, in the net gain-AOCl, and prior service cost-AOCl. [Hint: You might find T-accounts useful.]
5. What amount will Beale report in its 2024 balance sheet as a net pension asset or net pension llability for the funded status of the plan?
Complete this question by entering your answers in the tabs below.
Prepare the journal entries required for the pension during 2024.
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
Record the pension expense.
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