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Prepare a continuity schedule for the plan assets

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Reference no: EM132601996

The following information regarding Oriole Ltd.'s defined benefit pension plan was taken from the company's records for 2020:

Defined Benefit Obligation, January 1         $9,883,000

Actual return on plan assets                     439,000

Benefits paid to retirees                          849,000

Current year service cost                     1,205,000

Interest cost                                      493,000

Employer contributions for the year       1,009,000

Pension Plan Assets, January 1                8,781,000

Question 1: Prepare a continuity schedule for the DBO for 2020.

Question 2: Prepare a continuity schedule for the plan assets for 2020.

Question 3: Is the pension plan overfunded or underfunded for the year ended December 31, 2020? By how much?

Reference no: EM132601996

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