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Blossom Corporation provides the following information about its defined benefit pension plan for the year 2020: Current service cost $225,300 Contribution to the plan 263,000
Blossom Corporation provides the following information about its defined benefit pension plan for the year 2020: Current service cost $225,300 Contribution to the plan 263,000 Past service cost, effective December 31, 2020 25,200 Actual return on plan assets 159,000 Benefits paid 111,000 Net defined benefit liability at January 1, 2020 428,000 Plan assets at January 1, 2020 1,590,000 Defined benefit obligation at January 1, 2020 2,018,000 Interest/discount rate on the DBO and plan assets 10% Blossom follows IRFS
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