At January 1, 2020,BlossomCorporation had plan assets of $258,000and a defined benefit obligation of the same amount based on projected costs. During 2020, the current service cost was $28,050, the discount rate on the DBO and plan assets was10%, actual return on plan assets was $31,850, contributions byBlossomwere $20,550, benefits paid were $17,500, and the cost of past service benefits granted effective December 31, 2020, was $29,000.

Prepare the pension work sheet forBlossomCorporation for 2020 assuming thatBlossomfollows IFRS.

BLOSSOMCORPORATION

Pension Worksheet2020General Journal EntriesMemo Record ItemRe-measurement

(Gain) Loss (OCI)Annual

Pension

Expense