he following defined benefit pension data of Sunland Corp. apply to the year 2020:

 

Defined benefit obligation, funding basis, 1/1/20 (before amendment)		$418,000
Plan assets, 1/1/20		407,700
Net defined benefit liability, 1/1/20		10,300
On January 1, 2020, Sunland Corp., through a plan amendment, granted prior service benefits having a present value of		59,600
Interest/discount rate		9%
Annual pension service cost		44,500
Contributions (funding)		41,400
Actual return on plan assets		39,300
Benefits paid to retirees		49,600

The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on the funding basis.

QUESTIONS:

A) Prepare a continuity schedule for the DBO for 2020.

   

Transcribed Image Text:

Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sunland Corp. Continuity Schedule Prepare a continuity schedule for the DBO for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sunland Corp. Continuity Schedule

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