Exercise 19-8 Cullumber Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the follow January 1, 2020 December 31, 2020 $1,500 $1,550 2,400 3,120 1,380 2,087 10% 10% Vested benefit obligation Defined benefit obligation, accounting basis Plan assets (fair value) Interest/discount rate Net defined benefit liability/asset Past service cost, plan amendment, effective December 30, 2020 Service cost for the year 2020 Contributions (funding) 2020 Benefits paid in 2020 350 290 640 160 Cullumber Limited Pension Work Sheet - 2020 (ASPE) General Journal Entries Net Defined Benefit Liability/ Cash Asset Memo RC Annual Pension Expense Defined Benefit Obligation Items Balance, Jan. 1, 2020 (a) Service cost 290 Dr. 290 Cr. (b) Net interest/finance cost (c) Asset remeasurement gain (d) Past service cost in year (e) Contributions (f) Benefits paid Expense entry - 2020 Contribution entry - 2020 $ Balance, Dec. 31, 2020 UT || Exercise 19-8 Cullumber Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the follow January 1, 2020 December 31, 2020 $1,500 $1,550 2,400 3,120 1,380 2,087 10% 10% Vested benefit obligation Defined benefit obligation, accounting basis Plan assets (fair value) Interest/discount rate Net defined benefit liability/asset Past service cost, plan amendment, effective December 30, 2020 Service cost for the year 2020 Contributions (funding) 2020 Benefits paid in 2020 350 290 640 160 Cullumber Limited Pension Work Sheet - 2020 (ASPE) General Journal Entries Net Defined Benefit Liability/ Cash Asset Memo RC Annual Pension Expense Defined Benefit Obligation Items Balance, Jan. 1, 2020 (a) Service cost 290 Dr. 290 Cr. (b) Net interest/finance cost (c) Asset remeasurement gain (d) Past service cost in year (e) Contributions (f) Benefits paid Expense entry - 2020 Contribution entry - 2020 $ Balance, Dec. 31, 2020 UT ||