Question 4 of 4 - / 15 Nash Corporation is a publicly owned company that follows IFRS. On December 31, 2019. Nash's financial records indicated the following information related to the company's defined benefit pension plan Defined Benefit Obligation Pension Plan Assets $7.649.200 7.290 100 On January 1, 2020. Nash acquired the operations of AMX Ltd. As one of the conditions of the purchase. Nash agreed that AMX employees would be included in Nash's defined benefit pension plan and would be granted credit for the past service of AMX employees. The actuar estimated the value of the prior service amount granted on January 1, 2020 to be $321.700. Nash's actuary provided the following information on December 31, 2020 Current year service cost $358 200 Employer contributions for the year 441.900 Benefits paid to retirees 171.600 Actuarial increase in pension obligations 128.000 Expected return on assets 6X Actual return on assets 5X Discount rate 6% Prishtin Nash Comparation for the year endine Dember 11.27 Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020 GE Remeasurement Gain/Loss OCI Annual Pension Expense Balance, January 1, 2020 (a) Current Service Cost (b) Past Service Cost c) Net Interest/Finance Cost (d) Asset Remeasurement Gain Loss le) Actuarial Gain/Loss S Employer Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund C Pension Expense Entry-2020 Net Funding Entry Question 4 of 4 / 15 Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020 nal Entries Memo Res Net Defined Liability Asset Cash Defined Benefit Obligation 351100 CE: 7649200 : I . : PERO Mema Record Net Defined Liability Asset Dehned Benefit Obligation Plan Assets 351100 7649200 7298100 I Chapter 19 Homework - / 15 III Question 4 of 4 (b) Past Service Cost c) Net Interest/Finance Cost (d) Asset Remeasurement Gaivoss le) Actuarial Gain Loss Employer Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund Pension Expense Entry-2020 Net Funding Entry Balance, December 31, 2020 eTextbook and Media Question 4 of 4 : e Textbook and Media eTextbook and Media Prepare the journal entry to record the pension expense 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 for the amounts Question 4 of 4 - / 15 Prepare the journal entry to record the pension expense 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 for the amounts.) Account Titles and Explanation Debit Credit (To record pension expense) (To record payment to the pension fund) e Textbook and Media (To record payment to the pension fund) e Textbook and Media What is Nash's funded status at December 31, 2020? Nash pension plan is by $ on December 31, 2020 eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Last saved 18 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes Question 4 of 4 - / 15 Nash Corporation is a publicly owned company that follows IFRS. On December 31, 2019. Nash's financial records indicated the following information related to the company's defined benefit pension plan Defined Benefit Obligation Pension Plan Assets $7.649.200 7.290 100 On January 1, 2020. Nash acquired the operations of AMX Ltd. As one of the conditions of the purchase. Nash agreed that AMX employees would be included in Nash's defined benefit pension plan and would be granted credit for the past service of AMX employees. The actuar estimated the value of the prior service amount granted on January 1, 2020 to be $321.700. Nash's actuary provided the following information on December 31, 2020 Current year service cost $358 200 Employer contributions for the year 441.900 Benefits paid to retirees 171.600 Actuarial increase in pension obligations 128.000 Expected return on assets 6X Actual return on assets 5X Discount rate 6% Prishtin Nash Comparation for the year endine Dember 11.27 Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020 GE Remeasurement Gain/Loss OCI Annual Pension Expense Balance, January 1, 2020 (a) Current Service Cost (b) Past Service Cost c) Net Interest/Finance Cost (d) Asset Remeasurement Gain Loss le) Actuarial Gain/Loss S Employer Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund C Pension Expense Entry-2020 Net Funding Entry Question 4 of 4 / 15 Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020 nal Entries Memo Res Net Defined Liability Asset Cash Defined Benefit Obligation 351100 CE: 7649200 : I . : PERO Mema Record Net Defined Liability Asset Dehned Benefit Obligation Plan Assets 351100 7649200 7298100 I Chapter 19 Homework - / 15 III Question 4 of 4 (b) Past Service Cost c) Net Interest/Finance Cost (d) Asset Remeasurement Gaivoss le) Actuarial Gain Loss Employer Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund Pension Expense Entry-2020 Net Funding Entry Balance, December 31, 2020 eTextbook and Media Question 4 of 4 : e Textbook and Media eTextbook and Media Prepare the journal entry to record the pension expense 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 for the amounts Question 4 of 4 - / 15 Prepare the journal entry to record the pension expense 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 for the amounts.) Account Titles and Explanation Debit Credit (To record pension expense) (To record payment to the pension fund) e Textbook and Media (To record payment to the pension fund) e Textbook and Media What is Nash's funded status at December 31, 2020? Nash pension plan is by $ on December 31, 2020 eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Last saved 18 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes