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Required: Prepare a continuity schedule for the defined benefit obligations And Plan assets for the 2017 year? a 1,380 Cullumber Limited sponsors a defined benefit
Required: Prepare a continuity schedule for the defined benefit obligations And Plan assets for the 2017 year?
a 1,380 Cullumber 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, 2017 December 31, 2017 Vested benefit obligation $1,500 $1,550 Defined benefit obligation, accounting basis 2,400 3,120 Plan assets (fair value) 2,087 Interest/discount rate 10% Net defined benefit liability/asset Past service cost, plan amendment, effective December 30, 2017 350 Service cost for the year 2017 Contributions (funding) 2017 640 Benefits paid in 2017 10% ? ? 290 160Step by Step Solution
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