Reference no: EM133052650

Question - At January 1, 2020, Sunland Corporation had plan assets of $252,000 and a defined benefit obligation of the same amount based on projected costs. During 2020, the current service cost was $28,150, the discount rate on the DBO and plan assets was 10%, actual return on plan assets was $30,850, contributions by Sunland were $ 20,650, benefits paid were $17,500, and the cost of past service benefits granted effective December 31, 2020, was $29,000. Prepare a pension work sheet for Sunland Corporation for 2020 assuming that Sunland follows IFRS.