Crane Corporation provides the following information about its defined benefit pension plan for the year 2020:

Current service cost		$ 226,300
Contribution to the plan		263,800
Past service cost, effective December 31, 2020		26,300
Actual return on plan assets		160,000
Benefits paid		113,000
Net defined benefit liability at January 1, 2020		401,300
Plan assets at January 1, 2020		1,600,000
Defined benefit obligation at January 1, 2020		2,001,300
Interest/discount rate on the DBO and plan assets		10%

Crane follows IFRS.

Prepare a continuity schedule for 2020 for the defined benefit obligation. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Crane Corporation Continuity Schedule 2020
select an opening name Past ServiceDefined Benefit Obligation, 12/31/20Current Service CostBenefits PaidInterest CostDefined Benefit Obligation, 1/1/20		$ enter a dollar amount
select an item Defined Benefit Obligation, 12/31/20Interest CostDefined Benefit Obligation, 1/1/20Current Service CostPast ServiceBenefits Paid		enter a dollar amount
select an item Defined Benefit Obligation, 1/1/20Benefits PaidPast ServiceInterest CostCurrent Service CostDefined Benefit Obligation, 12/31/20		enter a dollar amount
select an item Current Service CostDefined Benefit Obligation, 1/1/20Benefits PaidInterest CostPast ServiceDefined Benefit Obligation, 12/31/20		enter a dollar amount
select an item Interest CostCurrent Service CostDefined Benefit Obligation, 1/1/20Past ServiceDefined Benefit Obligation, 12/31/20Benefits Paid		enter a dollar amount
select a closing name Defined Benefit Obligation, 12/31/20Benefits PaidInterest CostPast ServiceDefined Benefit Obligation, 1/1/20Current Service Cost		$ enter a total amount

Prepare a continuity schedule for 2020 for the plan assets. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Crane Corporation Continuity Schedule 2020
select an opening name Contributions into PlanBenefits PaidActual Return on Plan AssetsPlan Assets, 12/31/20Plan Assets, 1/1/20		$ enter a dollar amount
select an item Contributions into PlanPlan Assets, 1/1/20Actual Return on Plan AssetsPlan Assets, 12/31/20Benefits Paid		enter a dollar amount
select an item Contributions into PlanBenefits PaidActual Return on Plan AssetsPlan Assets, 1/1/20Plan Assets, 12/31/20		enter a dollar amount
select an item Plan Assets, 1/1/20Contributions into PlanPlan Assets, 12/31/20Actual Return on Plan AssetsBenefits Paid		enter a dollar amount
select a closing name Contributions into PlanPlan Assets, 12/31/20Benefits PaidPlan Assets, 1/1/20Actual Return on Plan Assets		$ enter a total amount

Calculate pension expense for the year 2020.

Pension expense

$ enter Pension expense in dollars

Prepare all pension journal entries recorded by Crane in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2020	select an account title to record pension expense Pension Contributions PayableCashPension ExpenseNet Defined Benefit Liability/AssetContributions	enter a debit amount	select a credit amount
	select an account title to record pension expense Net Defined Benefit Liability/AssetPension Contributions PayablePension ExpenseCashContributions	enter a debit amount	select a credit amount
	(To record pension expense)
December 31, 2020	select an account title to record contributions paid Pension ExpenseNet Defined Benefit Liability/AssetCashPension Contributions PayableContributions	enter a debit amount	select a credit amount
	select an account title to record contributions paid Net Defined Benefit Liability/AssetPension Contributions PayableContributionsCashPension Expense	enter a debit amount	select a credit amount
	(To record contributions paid)

What pension amount will appear on Cranes SFP at December 31, 2020?

Pension select asset or liability liabilityasset

$ enter a dollar amount