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how much is the net remeasurement gain/loss at the end of the year?

how much is the net remeasurement gain/loss at the end of the year?

FINANCIAL ACCOUNTING
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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On January 1, 2020, Blue team Company has a Benefit Plan Obligation worth 20,000,000. The actuaries during that time estimated that the accrued benefit cost in connection to the BPO is 2,000,000 from a plan asset designated to pay the retirees. During the year, this plan asset have been invested in various financial activities and had an actual returns worth 3000,000. The discount rate is 10% for both plan asset and PBO. Due to difference in actuarial assumptions, the Projected Benefit Obligation decreased by an amount worth 500,000 at the end of the year. how much is the net remeasurement gain/loss at the end of the year? (no negative answers neither gain nor loss)
Transcribed Image Text:On January 1, 2020, Blue team Company has a Benefit Plan Obligation worth 20,000,000. The actuaries during that time estimated that the accrued benefit cost in connection to the BPO is 2,000,000 from a plan asset designated to pay the retirees. During the year, this plan asset have been invested in various financial activities and had an actual returns worth 3000,000. The discount rate is 10% for both plan asset and PBO. Due to difference in actuarial assumptions, the Projected Benefit Obligation decreased by an amount worth 500,000 at the end of the year. how much is the net remeasurement gain/loss at the end of the year? (no negative answers neither gain nor loss)
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