Rebek Corporation provides the following information about its defined benefit pension plan for the year 2023:

Rebek follows IFRS.

Instructions

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

b. Prepare a continuity schedule for 2023 for the plan assets.

c. Calculate defined benefit expense for the year 2023.

d. Prepare all pension journal entries recorded by Rebek in 2023.

e. What pension amount will appear on Rebek’s SFP at December 31, 2023?

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Current service cost Contribution to the plan Past service cost, effective December 31, 2023 Actual return on plan assets Benefits paid Net defined benefit liability at January 1, 2023 Plan assets at January 1, 2023 Defined benefit obligation at January 1, 2023 Interest/discount rate on the DBO and plan assets $ 235,000 262,500 50,000 160,000 100,000 400,000 1,600,000 2,000,000 10%