Answered: All of the following are components of…

All of the following are components of the defined benefit cost except unvested past service cost interest on the effect of the asset ceiling loss on settlement return on plan assets

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 7MC: Which of the following is not a component of pension expense? a. amount funded b. service cost c....

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Question

All of the following are components of the defined benefit cost except

unvested past service cost

interest on the effect of the asset ceiling

loss on settlement

return on plan assets

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1. All of the following are components of the defined benefit cost except * unvested past service cost interest on the effect of the asset ceiling loss on settlement return on plan assets 2. Which of the following are recognized in other comprehensive income? service cost net interest in net defined benefit liability (asset) amortization of actuarial gains or losses difference between interest income on plan assets and return on plan assets 3. The balance of the present value of defined benefit obligation is affected by all of the following except * actuarial gains or losses interest cost current service cost contributions to the fund 4. If the present value of the defined benefit obligation exceeds the fair value of the plan assets, there is * deficit surplus expense prepaid accrued benefit cost
Which of the following are recognized in other comprehensive income? service cost net interest in net defined benefit liability (asset) amortization of actuarial gains or losses difference between interest income on plan assets and return on plan assets
In computing the ending balance of defined benefit obligation, which of the following is deducted from the beginning balance? (1) Current service cost (2) Actuarial loss (3) Actuarial gain (4) Benefits paid 1 and 4 O 3 and 4 O 1 and 3 2 and 3
MCQ Net defined benefit asset results in Current service cost Interest expense Interest revenue Past service cost
If the present value of the defined benefit obligation exceeds the fair value of the plan assets, there is * deficit surplus expense prepaid accrued benefit cost
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(2, 7) Helping tags: Accounting, Intermediate Accounting . . . WILL UPVOTE, just pls help me answer the question and show complete solutions. Thank you! 1. The information on the defined benefit plan is provided in the picture. a) How much is the remeasurement on asset ceiling to be reported in OCI? b) What is the interest on asset ceiling?
Prior (Past) service cost is included among OCI items in the statement of comprehensive income and thus subsequently becomes part of AOCI where it is amortized over the average remaining service period using a. U.S. GAAP. b. IFRS. c. Both U.S. GAAP and IFRS. d. Neither U.S. GAAP nor IFRS.
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Explain how the following transactions result in taxable /deductible temporarydifference:a. Interest revenue. (3 marks)b. Depreciation. (3 marks)c. Development costs. (3 marks)d. Retirement benefit costs. (3 marks)e. Research costs. (3 marks)