Please help with the Pension worksheet
Martinez Corporation is a publicly traded company and follows IFRS. On December 31, 2019, Martinez's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,350,000 Pension Plan Assets 1,470,000 Martinez Corporation's actuary provided the following information on December 31, 2020: Current year service cost $77,000 Prior service cost, granted Jan 1, 2020 171,000 Employer contributions for the year 83,000 Benefits paid to retirees 26,000 Expected return on assets 5% Actual return on assets 6% Discount rate 5% Prepare a pension worksheet for Martinez Corporation for 2020. Remeasurement Annual Pension Gain/Loss (OCI) Expense Balance, January 1, 2020 Current Service Cost 77,000 Past Service Cost 171,000 Net Interest/Finance Cost 67500 Asset Remeasurement Gain/Loss Employee/er Contributions to Pension FundPrepare a pension worksheet for Martinez Corporation for 2020. General Journal Entries nual Pension Net Defined Liability/ Expense Cash Asset 77,000 Dr. 171,000 Dr. 67500 Dr. v 83000 Cr. Prepare pension plan journal entries for Martinez Corporation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit CreditPrepare a pension worksheet for Martinez Corporation for 2020. Memo Record Net Defined Liability/ Defined Benefit Asset Obligation Plan Assets Prepare pension plan journal entries for Martinez Corporation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.)Prepare pension plan journal entries for Martinez Corporation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record pension expense) (To record payment to the pension fund) What is the funded status for Martinez Corporation at December 31, 2020? Martinez pension plan is v by $ on December 31, 2020