JSolutions Ltd$.$ sponsors a defined benefit pension plan for its employees. At the beginning of $20$X$3,$ there is an accrued SFP pension liability of $$154,700,$ as follows:

Defined benefit obligation $ $(490,100)$

Plan assets $($fair value$)356,300$

Net defined benefit liability $ $(154,700)$

There are also actuarial losses of $$72,800$ in accumulated OCI with respect to the pension plan.

The following data relate to the operation of the plan for the years $20$X$3$ and $20$X$4$:

$20$X$320$X$4$

Current service cost $ $52,000$ $ $47,000$

Yield rate on long$-$term corporate bonds $5\%5\%$

Actual return $($loss$)$ on plan assets $(14,000)23,000$

Annual funding contributions, at year$-$end $72,00093,000$

Benefits paid to retirees, at end of year $55,000$

$105,000$

Increase in defined benefit obligation due to changes in actuarial assumptions as of $31$ December each year

$81,00034,000$

Required:

Prepare a spreadsheet that summarizes relevant pension data for $20$X$3$ and $20$X$4.$ As part of the spreadsheet, calculate pension expense, the net defined benefit accrued benefit asset$/$liability$,$ and accumulated OCI for $20$X$3$ and $20$X$4.$TR$19-7$ Defined Benefit Plan; Spreadsheet Approach $($LO $19-3,19-4,19-6)$

Goodday Ltd$.,$ a public company, has a defined benefit pension plan and a $31$ December year$-$end. The following information relates to

the plan:Defined benefit obligation, end of $20$X$7$ $ $5,265,000$

SFP net defined benefit liability, end of $20$X$740,00$ cr$.$

Retained earnings, end of $20$X$78,631,400$ cr$.$

$20$X$8$ earnings, prior to any pension expense $4,200,000$ cr$.$

Current service cost for $20$X$8,$ measured using theNew past service cost granted in $20$X$8,$ negative becauseContributions made to the pension plan assets paid atActuarial gain in $20$X$8,$ negative because caused byliability has declined $(116,000)$

Actual earnings in the fund, reported by the pensionchange in fair value $146,800$

Benefits paid to pensioners from Pension fund assetsInterest rate on long$-$term corporate bonds, end of $20$X$8$

$70,900$Required:

Prepare the accounting for the defined benefit plan, using the spreadsheet approach.