The following defined benefit pension data of Blossom Corp. apply to the year 2020:

Defined benefit obligation, funding basis, 1/1/20 (before amendment)		$444,000
Plan assets, 1/1/20		433,800
Net defined benefit liability, 1/1/20		10,200
On January 1, 2020, Blossom Corp., through a plan amendment, granted prior service benefits having a present value of		54,500
Interest/discount rate		9%
Annual pension service cost		43,700
Contributions (funding)		43,600
Actual return on plan assets		41,300
Benefits paid to retirees		35,700

The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on the funding basis.

Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Blossom Corp. Continuity Schedule choose the accounting period For the Year Ended December 31, 2020For the Month Ended December 31, 2020December 31, 2020
select an opening name Benefits Paid OutInterest CostDefined Benefit Obligation, 1/1/20Past Service CostCurrent Service CostDefined Benefit Obligation, 12/31/20		$enter a dollar amount
select an item Benefits Paid OutCurrent Service CostInterest CostPast Service CostDefined Benefit Obligation, 12/31/20Defined Benefit Obligation, 1/1/20		enter a dollar amount
		enter a subtotal of the two previous amounts
select an item Defined Benefit Obligation, 1/1/20Past Service CostDefined Benefit Obligation, 12/31/20Interest CostBenefits Paid OutCurrent Service Cost		enter a dollar amount
select an item Current Service CostDefined Benefit Obligation, 12/31/20Past Service CostDefined Benefit Obligation, 1/1/20Interest CostBenefits Paid Out		enter a dollar amount
select an item Interest CostDefined Benefit Obligation, 12/31/20Benefits Paid OutCurrent Service CostDefined Benefit Obligation, 1/1/20Past Service Cost		enter a dollar amount
select a closing name Benefits Paid OutPast Service CostCurrent Service CostInterest CostDefined Benefit Obligation, 12/31/20Defined Benefit Obligation, 1/1/20		$enter a total amount

eTextbook and Media

Prepare a continuity schedule for the plan assets for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Blossom Corp. Continuity Schedule choose the accounting period For the Year Ended December 31, 2020December 31, 2020For the Month Ended December 31, 2020
select an opening name Benefits Paid OutContributionsPlan Assets, 1/1/20Plan Assets, 12/31/20Actual Return on Plan Assets		$enter a dollar amount
select an item Benefits Paid OutPlan Assets, 12/31/20ContributionsActual Return on Plan AssetsPlan Assets, 1/1/20		enter a dollar amount
select an item Plan Assets, 1/1/20Benefits Paid OutContributionsActual Return on Plan AssetsPlan Assets, 12/31/20		enter a dollar amount
select an item Benefits Paid OutPlan Assets, 12/31/20Actual Return on Plan AssetsPlan Assets, 1/1/20Contributions		enter a dollar amount
select a closing name Plan Assets, 12/31/20Actual Return on Plan AssetsContributionsPlan Assets, 1/1/20Benefits Paid Out		$enter a total amount

eTextbook and Media

Calculate pension expense for 2020

Pension expense

$enter Pension expense in dollars

Prepare the entry to record the expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2020	select an account title Pension Contributions PayablePension ExpenseContributionsCashNet Defined Benefit Liability/Asset	enter a debit amount	enter a credit amount
	select an account title Pension Contributions PayableContributionsNet Defined Benefit Liability/AssetPension ExpenseCash	enter a debit amount	enter a credit amount

eTextbook and Media

Calculate the balance of the net defined benefit liability/asset at December 31, 2020.

Net defined benefit select asset or liability assetliability, December 31, 2020

$enter a dollar amount

eTextbook and Media

Identify the plans surplus or deficit at December 31, 2020.

Pension select an option deficitsurplus

$enter a dollar amount