Question: please answer this fast this is an exam question the question is complete this much only please anawer as soon as possible please help me
Question 1 (13 points) Presented below is information pertaining to A&A Company's defined benefit pension plan for the year ended December 31, 2021. Defined benefit obligation owing on January 1, 2021 $798,500 $802.700 Fair value of plan assets on January 1, 2021 Current service cost for the year $176,650 Plan contributions for the year $196,520 Actual return on plan assets for the year 890 Expected return on plan assets for the year 796 796 Discount rate for the year Prior year service cost, granted January 1, 2021 $88,325 Benefits paid during the year $189.200 Defined benefit obligation on December 31, 2021 $926,800 A&A Company is a publicly accountable enterprise that follows IFRS. Required: 1. Prepare a pension worksheet for A&A Company for the year ended December 31, 2021. (9.5 marks) 2. Prepare the journal entries required by A&A Company for the pension plan in 2021. (2.5 marks) 3. What is the amount of the plan's surplus or deficit at December 31, 2021? (1 mark) Question 1 (13 points) Presented below is information pertaining to A&A Company's defined benefit pension plan for the year ended December 31, 2021. Defined benefit obligation owing on January 1, 2021 $798,500 $802.700 Fair value of plan assets on January 1, 2021 Current service cost for the year $176,650 Plan contributions for the year $196,520 Actual return on plan assets for the year 890 Expected return on plan assets for the year 796 796 Discount rate for the year Prior year service cost, granted January 1, 2021 $88,325 Benefits paid during the year $189.200 Defined benefit obligation on December 31, 2021 $926,800 A&A Company is a publicly accountable enterprise that follows IFRS. Required: 1. Prepare a pension worksheet for A&A Company for the year ended December 31, 2021. (9.5 marks) 2. Prepare the journal entries required by A&A Company for the pension plan in 2021. (2.5 marks) 3. What is the amount of the plan's surplus or deficit at December 31, 2021? (1 mark)
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