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Question 7 The following defined benefit pension data of Cullumber Corp. apply to the year 2020: Defined benefit obligation, funding basis, 1/1/20 (before amendment) $436,000

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Question 7 The following defined benefit pension data of Cullumber Corp. apply to the year 2020: Defined benefit obligation, funding basis, 1/1/20 (before amendment) $436,000 Plan assets, 1/1/20 424,500 Net defined benefit liability, 1/1/20 11, 500 On January 1, 2020, Cullumber Corp., through a plan amendment, granted prior service benefits having a present value of 50,900 Interest/discount rate 9% Annual pension service cost 40,700 Contributions (funding) 42,400 Actual return on plan assets 40,100 Benefits paid to retirees 43,200 The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign pr Cullumber Corp

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