Exercise 19-9 The following defined benefit pension data of Blossom Corp. apply to the year 2020: Defined benefit obligation, funding basis, 1/1/20 (before amendment) $400,000 Plan assets, 1/1/20 390,000 Net defined benefit liability, 1/1/20 10,000 On January 1, 2020, Blossom Corp., through a plan amendment, granted prior service benefits having a present value of 50,100 Interest/discount rate 9 Annual pension service cost 40,000 Contributions (funding) 39.000 Actual return on plan assets Benefits pains reti 30,000 The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DDO on the funding basis. 37,000 Prepare a continuity schedule for the DDO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Blossom Corp. Continuity Schedule LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT 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 c.g. (45).) a c. Blossom Corp. Continuity Schedule LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Calculate pension expense for 2020 Pension expense Prepare the entry to record the expense. (Credit account tities are automatically indented when the amount is enterod. Do not indent manually.) Account Titles and Explanation Debit Credit Date December 31, 2020 LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Calculate the balance of the net defined benefit liability/asset at December 31, 2020 Net defined benefit December 31, 2020 $ LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Identify the plan's surplus or deficit at December 31, 2020. Pension LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used