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Blossom Corporation provides the following information about its defined benefit pension plan for the year 2020:...

Blossom Corporation provides the following information about its defined benefit pension plan for the year 2020:

Current service cost $225,100
Contribution to the plan 262,600
Past service cost, effective December 31, 2020 25,100
Actual return on plan assets 159,000
Benefits paid 101,000
Net defined benefit liability at January 1, 2020 412,000
Plan assets at January 1, 2020 1,590,000
Defined benefit obligation at January 1, 2020 2,002,000
Interest/discount rate on the DBO and plan assets 10%


Blossom follows IRFS.

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ekkarill92 answered 2 years ago
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