re all required journal entries related to the post-retirement benefit plan that were made by the company in 2020. (Creditnt titles are automatically indented when the amount is entered. Do not indent manually.)DateDecember 31,2020Account Titles and ExplanationDecember 31,2020(To record post-retirement benefitexpense.)December 31,2020(To record remeasurement loss.)(To record contribution to the pension fund.)DebitCredit Ivanhoe Corp. provides the following information about its post-retirement health-care benefit plan for the year 2020:Current service costContribution to the planActual return on plan assetsBenefits paidPlan assets at January 1, 2020Defined post-retirement benefit obligation at January 1, 2020Discount rate(a)$204,500Post-retirement benefit expense $47,750141,95091,0001,597,6001,823,10011%Assuming Opsco follows IFRS, calculate the post-retirement benefit expense for 2020.

post-retirement benefits include benefits that employees are paid when they retire that are not…

Current service cost Contribution to the plan Actual return on plan assets Benefits paid Plan assets at January 1, 2020 Defined post-retirement benefit obligation at January 1, 2020 Discount rate (a) $204,500 Post-retirement benefit expense $ 47,750 141,950 91,000 1,597,600 1,823,100 11% Assuming Opsco follows IFRS. calculate the post-retirement benefit expense for 2020.

Current service cost Contribution to the plan Actual return on plan assets Benefits paid Plan assets at January 1, 2020 Defined post-retirement benefit obligation at January 1, 2020 Discount rate (a) $204,500 Post-retirement benefit expense $ 47,750 141,950 91,000 1,597,600 1,823,100 11% Assuming Opsco follows IFRS. calculate the post-retirement benefit expense for 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
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