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Prepare continuity schedule for the DBO

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Reference no: EM132602162

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

Defined Benefit Obligation, January 1         $9,800,000

Actual return on plan assets                      435,000

Benefits paid to retirees                           847,000

Current year service cost                    1,206,000

Interest cost                                      497,000

Employer contributions for the year        990,000

Pension Plan Assets, January 1                  8,697,000

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: EM132602162

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