Exercise 19-9 (Part Level Submission)

The following defined benefit pension data of Sunland Corp. apply to the year 2020:

Defined benefit obligation, funding basis, 1/1/20 (before amendment)		$442,000
Plan assets, 1/1/20		430,400
Net defined benefit liability, 1/1/20		11,600
On January 1, 2020, Sunland Corp., through a plan amendment, granted prior service benefits having a present value of		59,500
Interest/discount rate		9%
Annual pension service cost		41,700
Contributions (funding)		43,500
Actual return on plan assets		41,000
Benefits paid to retirees		35,900

The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on the funding basis.

A)Prepare a continuity schedule for the DBO for 2020

B)Prepare a continuity schedule for the plan assets for 2020

C)Prepare the entry to record the expense

D)Calculate the balance of the net defined benefit liability/asset at December 31, 2020(Net defined benefit liability

, December 31, 2020 $...)