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The following defined benefit pension data of Cullumber Corp. apply to the year 2020: $414,000 402,000 12,000 Defined benefit obligation, funding basis, 1/1/20 (before amendment)
The following defined benefit pension data of Cullumber Corp. apply to the year 2020: $414,000 402,000 12,000 Defined benefit obligation, funding basis, 1/1/20 (before amendment) Plan assets, 1/1/20 Net defined benefit liability, 1/1/20 On January 1, 2020, Cullumber Corp., through a plan amendment, granted prior service benefits having a present value of Interest/discount rate Annual pension service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees 60,300 9% 43,300 40,800 38,400 40,200 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).) Cullumber Corp. Continuity Schedule
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