Please answer immediately. With solutions Information on Chang Company's defined benefit plan is shown below:Present value of benefit obligation, January 1480,000Current service cost120,000Interest cost10%Benefits paid to retirees200,000Decrease in present value of defined benefit obligation during the year due tochanges in actuarial assumption40,000How much is the ending balance of the present value of defined benefit obligation?O 448,000O 608.0000 408,000O 480,000

Defined benefit plans are those plans which are made by the employer for the purpose of providing…

Answered: Information on Chang Company's defined…

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 7RE

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The actuarial valuation report of an entity shows the following information: Present value of defined benefit obligation, Jan. 1 280,000 Discount rate 14% Benefits paid to retirees Actuarial gain Present value of defined benefit obligation, Dec. 31 90,000 60,000 210,000 How much is the current service cost? a. 40,800 b. 44,800 c. 48,200 d. 79,200 2.
Information on Chang Company's defined benefit plan is shown below: Present value of benefit obligation, January 1 480,000 Current service cost 120,000 Interest cost 10% Benefits paid to retirees 200,000 Decrease in present value of defined benefit obligation during the year due to changes in 40,000 actuarial assumption How much is the ending balance of the present value of defined benefit obligation?
1. Information on an entity's defined benefit obligation is as follows Present value of defined benefit obligation, lan 1 130,000 Present value of defined obligation, Dec. 31 110,600 Discount rate 12% Benefits paid to retirees 110,000 Actuarial loss 50,000 How much is the current service cost? O r000 O s000 O B0,000 O 25,000
The actuarial valuation report of an entity shows the following information: Present value of defined benefit obligation, Jan. 1 340,000 Current service cost 30,000 Discount rate 10% Benefits paid to retirees 100,000 Actuarial gain 60,000 How much is the year-end balance of the present value of defined benefit obligation? a. 210,000 b. 244,000 c. 304,000 d. 364,000 The actuarial valuation report of an entity shows the following information: Present value of defined benefit obligation, Jan. 1 280,000 Discount rate 14% Benefits paid to retirees 90,000 Actuarial gain 60,000 Present value of defined benefit obligation, Dec. 31 210,000 How much is the current service cost? a. 40,800 b. 44,800 c. 48,200 d. 79,200
How much was the benefits paid to retirees during the year? *a. P 300,000b. P 250,000c. P 280,000d. P 330,000
The actuarial valuation report of an entity shows the following Present value of defined benefit obligation (PV of DBO, Jan. 1 280,000 Current service cost 5000 Discount rate Benefits paid to retirees 120,000 Decrease in PV of DEC during the year due to exchange in actuarial s0,000 assumptions How much is the present value of the defined benefit obligation as of the year-end? O 19000 O 240,800 O 160,000 O 290,800
The following information relates to the defined benefit pension plan of Nelson, Inc. Projected benefit obligation Fair value of plan assets Accumulated OCI-net actuarial gain Settlement rate (for year) Expected rate of return (for year) The interest cost for 2020 is $158,640 $211,520 12/31/19 2,644,000 3,118,000 432,000 O $240,120 O $280,140 O None of the above 6% 8% 12/31/20 4,002,000 3,328,000 480,000 For 2020, Nelson estimates that the average remaining service life of its current employees is 8 years. Nelson's contribution to the plan was $364,000 in 2020 and benefits paid to retirees were $276,000, 6% 7%
A-1
Information about the defined benefit plan of the company are shown below Defined benefit obligation, January 1, 2021 5,500,000 Current service cost 330,000 Actual return on plan asset 170,000 Fair value on plan asset, January 1, 2021 4,000,000 Discount rate 5% What is the balance of the defined benefit obligation as of December 31, 2021?
11 Information on Chang Company’s defined benefit plan is shown below: Present value of benefit obligation, January 1 480,000 Current service cost 120,000 Interest cost 10% Benefits paid to retirees 200,000 Decrease in present value of defined benefit obligation during the year due to changes in actuarial assumption 40,000 How much is the ending balance of the present value of defined benefit obligation? Group of answer choices 448,000 608,000 408,000 480,000
Data regarding the defined benefit plan of XYZ Company follows: Present value of defined benefit obligation, Jan. 1 - 1,200,000 Current service cost - 400,000 Interest cost - 12% Benefits paid to retirees - 500,000 Increase in PV due to change in actuarial assumptions - 200,000 Past service cost - 600,000 Present value of DBO settled - 400,000 How much is the ending balance of the defined benefit obligation?
The following date relate to the defined benefit plan of CCC Company for the year ended December 31, 20x8: Present value of benefit obligation, January 1, 20x8 Current service cost Benefits paid during the year Discount rate Present value of benefit obligation, December 31 20x8 1. P15,000,000 800,000 1,500,000 6% 17,410,000 Ignore income tax, what amount of remeasurement gain or loss that should be included in the other comprehensive income?

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