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Windsor Corporation is a publicly traded company and follows IFRS. On December 31, 2019, Windsor's financial records indicated the following information related to the company's
Windsor Corporation is a publicly traded company and follows IFRS. On December 31, 2019, Windsor's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,360,000 Pension Plan Assets 1,470,000 Windsor Corporation's actuary provided the following information on December 31, 2020: Current year service cost $82,000 Prior service cost, granted Jan 1, 2020 198,000 Employer contributions for the year 81,000 Benefits paid to retirees 28,000 Expected return on assets 5% Actual return on assets 6% Discount rate 5% Prepare a pension worksheet for Windsor Corporation for 2020. G Remeasurement Gain/Loss (OCI) Annual Pension Expense Balance, January 1, 2020 Current Service Cost Past Service Cost Net Interest/Finance Cost Asset Remeasurement Gain/Loss Employee/er Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund Pension Expense Entry - 2020 Net Funding Entry Balance, December 31, 2020 Windsor Corporation is a publicly traded company and follows IFRS. On December 31, 2019, Windsor's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,360,000 Pension Plan Assets 1,470,000 Windsor Corporation's actuary provided the following information on December 31, 2020: Current year service cost $82,000 Prior service cost, granted Jan 1, 2020 198,000 Employer contributions for the year 81,000 Benefits paid to retirees 28,000 Expected return on assets 5% Actual return on assets 6% Discount rate 5% Prepare a pension worksheet for Windsor Corporation for 2020. General Journal Entries Annual Pension Expense Net Defined Liability/ Asset Cash | Windsor Corporation is a publicly traded company and follows IFRS. On December 31, 2019, Windsor's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,360,000 Pension Plan Assets 1,470,000 Windsor Corporation's actuary provided the following information on December 31, 2020: Current year service cost $82,000 Prior service cost, granted Jan 1, 2020 198,000 Employer contributions for the year 81,000 Benefits paid to retirees 28.000 Expected return on assets 5% Actual return on assets 6% Discount rate 5% Prepare a pension worksheet for Windsor Corporation for 2020. Memo Record Net Defined Liability/ Asset Defined Benefit Obligation Plan Assets V
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