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Need help for this one Sunland Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information about the

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Sunland Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information about the plan (in thousands of dollars): January 1, 2020 December 31, 2020 Vested benefit obligation $1,300 $1,460 Defined benefit obligation, accounting basis 2,24 3,004 Plan assets (fair value 1,360 2,089 Interest/discount rate 10% 10% Net defined benefit liability/asset Past service cost, plan amendment, effective December 30, 2020 360 Service cost for the year 2020 300 Contributions (funding) 2020 700 Benefits paid in 2020 120 (Enter answers in thousands of dollars.) Calculate the actual return on the plan assets in 2020. Actual return on the plan assets in 2020 $149 Calculate the amount of the net defined benefit liability/asset as at January 1, 2020. Net defined benefit liability J, January 1, 2020 $ 880 Prepare a continuity schedule of the defined benefit obligation for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Calculate the pension expense for 2020, separately identifying each amount making up the total expense. (Enter negative amounts using either a negative sign preceding the number, e.g. -45 or parentheses, e.g. (45).) Current service cost Net interest cost 224 Asset remeasurement gain Past service cost 360 Pension expense for 2020 Prepare the pension-related entries made by the company during 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2020 To record pension expense. 2020 (To record contribution to the pension fund.) Compare the plan's surplus or deficit at December 31, 2020, with the amount reported on the December 31, 2020 balance sheet. Plan Net defined benefit 1, Dec. 31/20 $

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