The following information is available for Blossom Corporations pension plan for the year 2020:

Plan assets, January 1, 2020		$350,000
Actual return on plan assets		17,000
Benefits paid to retirees		40,100
Contributions (funding)		93,000
Discount rate		10%
Defined benefit obligation, January 1, 2020, accounting basis valuation		501,000
Service cost		65,100

Calculate pension expense for the year 2020, assuming that Blossom follows IFRS.

Pension expense

b) Provide the entries to recognize the pension expense and funding for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

c)

Calculate pension expense for the year 2020, assuming that Blossom follows ASPE, and its accounting policy is to use an accounting basis valuation for its defined benefit obligation.

Pension expense

d) Provide the entries to recognize the pension expense and funding for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)