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What is the pension worksheet for Tomas Corporation

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Question - Tomas Corporation is a privately owned company that uses ASPE. On January 1, 2020 Tomas's financial records indicated the following information related to the company's defined benefit pension plan:

Defined Benefit Obligation $12,970,000

Pension Plan Assets 11,250,000

Tomas's actuary provided the following information on December 31, 2020:

Current year service cost $675,000

Prior service cost, granted Jan 1, 2020 250,000

Employer contributions for the year 950,000

Benefits paid to retirees 350,000

Actuarial Remeasurement Gain 75,000

Discount rate 5%

Actual return on assets 6%

Required - What is the pension worksheet for Tomas Corporation for 2020.

Reference no: EM132921955

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