Berstler Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information about the plan (in thousands of dollars):

Instructions
(a) Calculate the actual return on the plan assets in 2017.
(b) Calculate the amount of the net defined benefit liability/asset as at January 1, 2017.
(c) Prepare a continuity schedule of the defined benefit obligation for the 2017 year.
(d) Calculate the pension expense for 2017, separately identifying each amount making up the total expense.
(e) Prepare the pension-related entries made by the company during 2017.
(f) Compare the plan's surplus or deficit at December 31, 2017 with the amount reported on the December 31, 2017 balance sheet.

Transcribed Image Text:

Vested benefit obligation Defined benefit obligation, accounting basis Plan assets (fair value) Interest/discount rate Net defined benefit liability/asset Past service cost, plan amendment, effective January 1, 2017 $1,200 2,240 1,360 10% December 31, 2017 $1,520 3,004 2,096 10% December 30, 2017 Service cost for the year 2017 Contributions (funding) 2017 Benefits paid in 2017 380 320 640 160