Hruska Corp. provides post-employment benefits to its retirees for dental and supplementary health care. The following information relates to these benefits: Benefit obligation, 1 January 20X6 Current service cost for 20X6 SPP Accrued net OPEB liability, 1 January, 20X6 Accumulated OCI, OPEBs, 1 January 20X6, loss Fund assets, 1 January 20X6 Contributions to the benefit fund for 20X6-paid 1 April Benefit payments to retired employees for 2016 evenly over year Actual return on fund assets Yield rate on long-term corporate bonds Projected obligation Plan assets $74, 000 18, 500 13, 500 28,000 60, 500 9, 500 OPEB expense 14, 500 600 Note: The solution to this question is based on an optional spreadsheet. Required: 1. Compute the benefit obligation for post-employment benefits at 31 December 20X6 and plan assets at 31 December 20X6. (Round your intermediate and final answers to nearest whole dollar.) 6% 2. Compute the appropriate expense for post-employment benefits for the year ended 31 December 20X6. (Round your intermediate and final answers to nearest whole dollar.)

Q: Define special purpose entity (SPE)

A: A special purpose entity is a legally separate enterprise that bears liability to an organization.…

Q: Define carried interest

A: Carried interest: It could be a portion of any profit that private equity and hedge reserves common…

Q: How is ARR calculated?

A: ARR: Accounting Rate of Return (ARR) is the rate of return earned on the investment made in a…

Q: The components of the conceptual framework ?

A:

Q: practical issues of wacc

A: Every entity uses a mix of equity and debt to fund its operations. This mix is recognized as the…

Q: How is RI calculated?

A:

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Consistency Principal Definition

A: Generally Accepted Accounting Principles (GAAP):These are the guidelines necessary to create…

Q: How is materiality concept applied?

A: Accounting principles:

Q: Define characteristic line

A: Characteristic line is a graphical representation of alpha (α) where alpha is the difference between…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: Define charter

A: Introduction: Charters are legalized documents that lawfully set up corporate companies. Only…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: What is the relevant range?

A: The concept of relevant range is used in the cost accounting. It tells under what level of…

Q: Define direct quote

A: A direct quote can be computed using the following formula: Direct quote=1Indirect quote

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.