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?