Monty Corporation is a publicly traded company that follows IFRS. On December 31, 2019, Monty' financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation Pension Plan Assets $3,780,000 3,780,000 On July 1, 2020, Monty acquired the operations of Trap Ltd. As one of the conditions of the purchase, Monty agreed that Trap's employees would be included in Monty's defined benefit pension plan, and would be granted credit for the past service of Trap's employees. The actuary estimated the value of the prior service amount granted on July 1, 2020 to be $206,000. Monty'actuary provided the following information on December 31, 2020: $894,000 Current year service cost Employer contributions for the year Benefits paid to retirees Actuarial increase in pension obligations Discount rate Actual return on assets 328,000 52,000 6% 4% Prepare a pension worksheet for Monty Corporation for the year ending December 31, 2020. Remeasurement Gain/Loss OCI General Journal Entries Annual Pension Expense Cash Balance, January 1, 2020 Current Service Cost 894000 Dr. Past Service Cost 206000 Dr. Net Interest/Finance Cost 81780 Dr Asset Remeasurement Gain/Loss Actuarial Gain/Loss 52000 Dr. Employer Contributions to Pension Fund 891000 Benefits Paid to Retirees from Pension Fund Pension Expense Entry - 2020 1181780 Dr. Net Funding Entry 891000 Balance, December 31, 2020 Prepare the journal entry to record the pension expense for 2020. (Credit account titles are automatically indented when the amount is en entry is required, select "No entry"for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation Pension Expense 1181780 Net Defined Benefit Liability or Asset (To record pension expense) Net Defined Benefit Liability or Asset Cash (To record payment to the pension fund) e Textbook and Media List of Accounts What is the funded status on December 31, 2020? Monty pension plan is by $ on December 31, 2020. Monty Corporation is a publicly traded company that follows IFRS. On December 31, 2019, Monty' financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation Pension Plan Assets $3,780,000 3,780,000 On July 1, 2020, Monty acquired the operations of Trap Ltd. As one of the conditions of the purchase, Monty agreed that Trap's employees would be included in Monty's defined benefit pension plan, and would be granted credit for the past service of Trap's employees. The actuary estimated the value of the prior service amount granted on July 1, 2020 to be $206,000. Monty'actuary provided the following information on December 31, 2020: $894,000 Current year service cost Employer contributions for the year Benefits paid to retirees Actuarial increase in pension obligations Discount rate Actual return on assets 328,000 52,000 6% 4% Prepare a pension worksheet for Monty Corporation for the year ending December 31, 2020. Remeasurement Gain/Loss OCI General Journal Entries Annual Pension Expense Cash Balance, January 1, 2020 Current Service Cost 894000 Dr. Past Service Cost 206000 Dr. Net Interest/Finance Cost 81780 Dr Asset Remeasurement Gain/Loss Actuarial Gain/Loss 52000 Dr. Employer Contributions to Pension Fund 891000 Benefits Paid to Retirees from Pension Fund Pension Expense Entry - 2020 1181780 Dr. Net Funding Entry 891000 Balance, December 31, 2020 Prepare the journal entry to record the pension expense for 2020. (Credit account titles are automatically indented when the amount is en entry is required, select "No entry"for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation Pension Expense 1181780 Net Defined Benefit Liability or Asset (To record pension expense) Net Defined Benefit Liability or Asset Cash (To record payment to the pension fund) e Textbook and Media List of Accounts What is the funded status on December 31, 2020? Monty pension plan is by $ on December 31, 2020