Question: - Q2. (20 marks) *** Presented below is information related to Kiwi Ltd. for calendar 2020. The corporation uses IFRS. Defined benefit obligation, Jan 1

- Q2. (20 marks) *** Presented below is information related to Kiwi Ltd. for calendar 2020. The corporation uses IFRS. Defined benefit obligation, Jan 1 $ 720,000 Fair value of plan assets, Jan 1 700,000 Current service cost 90,000 Contributions to plan 125,000 Actual and expected return on plan assets 56,000 Past service costs (effective Jan 1) 10,000 O Benefits paid to retirees 96,000 9% Interest (discount) rate Calculation the pension expense and benefit obligation for the year in 2020 Record the necessary transactions in the books

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