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he following information regarding Ivanhoe Companys defined benefit pension plan was taken from the companys records for 2020: Defined Benefit Obligation, January 1 $3,310,000 Actual
he following information regarding Ivanhoe Companys defined benefit pension plan was taken from the companys records for 2020:
Defined Benefit Obligation, January 1 | $3,310,000 | |
Actual return on plan assets | 281,400 | |
Benefits paid to retirees | 43,700 | |
Current year service cost | 116,600 | |
Interest cost | 227,150 | |
Employer contributions for the year | 91,300 | |
Pension Plan Assets, January 1 | 2,890,000 |
(a)
Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Interest CostBenefits Paid to RetireesDefined Benefit Obligation, January 1Current Year Service CostDefined Benefit Obligation, December 31Actual Return on Plan Assets | $ | |
Defined Benefit Obligation, January 1Benefits Paid to RetireesActual Return on Plan AssetsCurrent Year Service CostInterest CostDefined Benefit Obligation, December 31 | ||
Benefits Paid to RetireesDefined Benefit Obligation, January 1Interest CostDefined Benefit Obligation, December 31Current Year Service CostActual Return on Plan Assets | ||
Current Year Service CostDefined Benefit Obligation, December 31Benefits Paid to RetireesActual Return on Plan AssetsInterest CostDefined Benefit Obligation, January 1 | ||
Defined Benefit Obligation, December 31Interest CostBenefits Paid to RetireesActual Return on Plan AssetsDefined Benefit Obligation, January 1Current Year Service Cost | $ |
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