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

Instructions

a. Calculate the actual return on the plan assets in 2023.

b. Calculate the amount of the net defined benefit liability/asset as at January 1, 2023.

c. Prepare a continuity schedule of the defined benefit obligation for 2023.

d. Calculate the defined benefit expense for 2023, separately identifying each amount making up the total expense.

e. Prepare the pension-related entries made by the company during 2023.

f. Compare the plan’s surplus or deficit at December 31, 2023, with the amount reported on the December 31, 2023 balance sheet.

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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 December 30, 2023 Service cost for the year 2023 Contributions (funding) 2023 Benefits paid in 2023 January 1, 2023 $1,200 2,240 1,360 10% ? December 31, 2023 $1,520 3,004 2,096 10% ? 380 320 640 160