Question

Uncharted Corp. reports the following information (information provided in hundreds of thousands of dollars) to you...

Uncharted Corp. reports the following information (information provided in hundreds of thousands of dollars) to you about its defined benefit pension plan for 2018:

Actual return on plan assets

$17

Benefits paid to retirees

12

Contributions from employer

30

Cost of plan amendment in year

20

Current service cost

32

Interest cost

14

Opening balance, defined benefit obligation (DBO)

138

Opening balance, plan assets

150

Required:

1. Provide the defined benefit obligation ending balance.

2. Provide a continuity schedule for the plan assets for the year. Is the plan in a surplus or a deficit position at the end of the year?

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