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How do Prepare continuity schedule for the DBO

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Reference no: EM132603712

The following information regarding Flint Company's defined benefit pension plan was taken from the company's records for 2020:

Defined Benefit Obligation, January 1 $3,330,000

Actual return on plan assets 280,450

Benefits paid to retirees 43,600

Current year service cost 115,850

Interest cost 227,250

Employer contributions for the year 90,800

Pension Plan Assets, January 1 2,880,000

Question a. Prepare continuity schedule for the DBO for 2020.

Question b. Prepare continuity schedule for the plan assets for 2020.

Question c. Is the pension plan overfunded or underfunded for the year ended December 31, 2020? By how much?

Reference no: EM132603712

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