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The following information regarding Nash Companys defined benefit pension plan was taken from the companys records for 2020: Defined Benefit Obligation, January 1 $3,410,000 Actual
The following information regarding Nash Companys defined benefit pension plan was taken from the companys records for 2020:
Defined Benefit Obligation, January 1 | $3,410,000 | |
Actual return on plan assets | 280,850 | |
Benefits paid to retirees | 43,300 | |
Current year service cost | 115,750 | |
Interest cost | 226,200 | |
Employer contributions for the year | 90,450 | |
Pension Plan Assets, January 1 | 2,985,000 |
(a)
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).)
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