At January 1, 2013, Uddin Corporation had plan assets of $250,000 and a defined benefit obligation of

Question:

At January 1, 2013, Uddin had plan assets of $250,000 and a defined benefit obligation of the same amount based on projected costs. During 2013, the current service cost was $27,500, the on the DBO/plan assets was 10%, actual return on plan assets was $30,000, contributions by Uddin were $20,000, benefits paid were $17,500, and the cost of past service benefits granted effective December 31, 2013, was $29,000.
(a) Prepare a pension work sheet for Uddin for 2013 assuming that Uddin follows IFRS.
(b) Prepare a pension work sheet for Uddin for 2013 assuming that Uddin follows ASPE and has elected to apply the deferral and amortization approach.
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