Summit Corporation, a chain of tourism-based businesses, sponsors a defined benefit pension plan for its employees. Summit follows IFRS. The plans trustee reports the following information for calendar 2020:

Instructions

1. Fill in the pension spreadsheet below.

	Remeasurement gain/loss	Pension expense	Cash	Net defined benefit liab/asset	DBO	Plan assets
					260,000	200,000
Current service cost
Past service costs
Interest cost
Expected return
Remeasurement gain/loss
Cash paid
Benefits paid

2. Provide the following figures:

   Pension expense for 2020

   DBO ending balance

   Plan assets ending balance

   Net defined benefit liability/asset ending balance

   Remeasurement gain/loss ending balance

3. Prepare the pension-related journal entries for 2020