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Please Complete the Question by Solving the Amounts... Wildhorse Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following

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Please Complete the Question by Solving the Amounts...

Wildhorse 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 $1,300 2,340 1,360 10% ? December 31, 2020 $1,500 3,124 2,093 10% Vested benefit obligation Defined benefit obligation, accounting basis Plan assets (fair value) Interest/discount rate Net defined benefit liability/asset Past service cost, plan amendment, effective December 30, 2020 Service cost for the year 2020 Contributions (funding) 2020 Benefits paid in 2020 ? 380 320 680 150 Calculate the actual return on the plan assets in 2020. Actual return on the plan assets in 2020 $ Calculate the amount of the net defined benefit liability/asset as at January 1, 2020. Net defined benefit liability January 1, 2020 $ 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).) DBO, January 1, 2020 $ Interest Cost Current Service Cost, 2020 Past Service Cost, Dec. 30/20 Plan Amendment V Benefits Paid in 2020 DBO, December 31, 2020 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 Asset remeasurement gain Past service cost 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 Pension Expense Net Defined Benefit Liability/Asset (To record pension expense.) 2020 Net Defined Benefit Liability/Asset v Cash (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 deficit $ Net defined benefit liability, Dec. 31/20 $

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