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Current Attempt in Progress The following defined benefit pension data of Wildhorse Corp.apply to the year 2020: $434,000 422,100 11,900 Defined benefit obligation, funding basis,
Current Attempt in Progress The following defined benefit pension data of Wildhorse Corp.apply to the year 2020: $434,000 422,100 11,900 Defined benefit obligation, funding basis, 1/1/20 (before amendment) Plan assets, 1/1/20 Net defined benefit liability, 1/1/20 On January 1, 2020, Wildhorse Corp., through a plan amendment, granted prior service benefits having a present value of Interest/discount rate Annual pension service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees 67,300 9% 42,000 42,300 40,300 35,800 The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on the funding basis. Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) Wildhorse Corp. Continuity Schedule $ e Textbook and Media Prepare a continuity schedule for the plan assets for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Wildhorse Corp. Continuity Schedule For the Year Ended December 31, 2020 V $ $ e Textbook and Media Calculate pension expense for 2020 Pension eynense $ Calculate pension expense for 2020 Pension expense $ Prepare the entry to record the expense. (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 e Textbook and Media Calculate the balance of the net defined benefit liability/asset at December 31, 2020 Net defined benefit December 31, 2020 $ e Textbook and Media Identify the plan's surplus or deficit at December 31, 2020. Pension
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