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Question 5 of 6 -/54 III Carla Vista Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information
Question 5 of 6 -/54 III Carla Vista 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 $1,300 $1.520 2.220 2.962 1,380 2,082 1096 1096 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 ? ? 360 300 620 140 Prepare a 2020 pension worksheet (Enter answers in thousands of dollars.) Carla Vista Limited Pension Work Sheet-2020 (ASPE) General Journal Entries Annual Pension Items Expense Cash $ Expense entry-2020 $ Contribution entry-2020 $ Balance, Dec 31, 2020 Prepare the journal entries at December 31, 2020, to record pension expense and the funding contributions. (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 Expense entry-2020 $ Contribution entry-2020 $ Balance, Dec 31, 2020 Prepare the journal entries at December 31, 2020, to record pension expense and the funding contributions. (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
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