13. The following information are taken from the actuarial valuation report for an entity's defined benefit plan: Fair value of plan assets, Jan 1 1,500,000 Return on plan assets 180,000 Employer contributions 45,000 Present value of defined benefit obligation, Jan 1 1,800,000 Current service cost 450,000 Benefits paid during the period 75,000 Actuarial gain 10,000 Discount rate 12% What is the net defined benefit liability (asset) as of December 31?
13. The following information are taken from the actuarial valuation report for an entity's defined benefit plan: Fair value of plan assets, Jan 1 1,500,000 Return on plan assets 180,000 Employer contributions 45,000 Present value of defined benefit obligation, Jan 1 1,800,000 Current service cost 450,000 Benefits paid during the period 75,000 Actuarial gain 10,000 Discount rate 12% What is the net defined benefit liability (asset) as of December 31?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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13. The following information are taken from the actuarial valuation report for an entity's defined benefit plan:
Fair value of plan assets, Jan 1 | 1,500,000 |
Return on plan assets | 180,000 |
Employer contributions | 45,000 |
Present value of defined benefit obligation, Jan 1 | 1,800,000 |
Current service cost | 450,000 |
Benefits paid during the period | 75,000 |
Actuarial gain | 10,000 |
Discount rate | 12% |
What is the net defined benefit liability (asset) as of December 31?
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