Question 4 of 4 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 7,298.100 On January 1, 2020. Nash acquired the operations of AMX Ltd. As one of the conditions of the purchase, Nash agreed that AMX's employees would be included in Nash's defined benefit pension plan, and would be granted credit for the past service of AMXS employees. The actuary 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 Employer contributions for the year Benefits paid to retirees Actuarial increase in pension obligations Expected return on assets Actual return on assets Discount rate $358,200 441,900 171,600 128.000 6% 5% -/15 6% Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020 Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020. Balance, January 1, 2020 (a) (b) (c) (d) (e) (1) (8) Current Service Cost Past Service Cost Net Interest/Finance Cost Asset Remeasurement Gain/Loss Actuarial Gain/Loss Employer Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund Pension Expense Entry-2020 Net Funding Entry Remeasurement Gain/Loss OCI Annual Pension Expense Gr Question 4 of 4 Prepare a pension worksheet for Nash Corporation for the year ending December 31, 2020 mal Entries Cash A Net Defined Liability/ Asset 351100 ** Defined Benefit Obligation 7649200 -/15 E Memo Rec Cr. 4 Prepara pension wer Net Defined Liability/ Asset 351100 Defined Benefit Obligation 7649200 C Memo Record Plan Assets 7298100 Chapter 19 Homework Question 4 of 4 (b) (c) (d) (e) (g) Past Service Cost Net Interest/Finance Cost Asset Remeasurement Gain/Loss Actuarial Gain/Loss (1) 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 Medial -/15 E !!! Question 4 of 4 eTextbook and Media # 11 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 0 for the amounts) Question 4 of 4 < 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 o for the amounts.) Account Titles and Explanation (To record pension expense) (To record payment to the pension fund) eTextbook and Media Debit Credit -/15 E DAN (To record payment to the pension fund) eTextbook and Media What is Nash's funded status at December 31, 2020? Nash pension plan is eTextbook and Media by $ 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. on December 31, 2020. Attempts: 0 of 3 used Submit Answer