How much is the total defined benefit cost for 20x1? Information on Entity A's defined benefit plan is as follows:PV of DBO - Jan. 1, 20x11,800,0001,440,000FVPA - Jan.1, 20x1PV of DBO -Dec. 31, 20х1Dec. 31, 20х12,160,0001,572,000390,000120,000132,000FVPA, end.Current service costActuarial lossReturn on plan assetsDiscount rate5%

Defined benefit Cost = Service Cost + Net Interest + Remeasurement

Information on Entity A's defined benefit plan is as follows: 1,800,000 1,440,000 2,160,000 PV of DBO - Jan. 1, 20x1 FVPA Jan.1, 20x1 PV of DBO Dec. 31, 20x1 FVPA, end. - Dec. 31, 20x1 1,572,000 Current service cost 390,000 120,000 Actuarial loss Return on plan assets Discount rate 132,000 5%

Information on Entity A's defined benefit plan is as follows: 1,800,000 1,440,000 2,160,000 PV of DBO - Jan. 1, 20x1 FVPA Jan.1, 20x1 PV of DBO Dec. 31, 20x1 FVPA, end. - Dec. 31, 20x1 1,572,000 Current service cost 390,000 120,000 Actuarial loss Return on plan assets Discount rate 132,000 5%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

How much is the total defined benefit cost for 20x1?

Information on Entity A's defined benefit plan is as follows:
PV of DBO - Jan. 1, 20x1
1,800,000
1,440,000
FVPA - Jan.1, 20x1
PV of DBO -
Dec. 31, 20х1
Dec. 31, 20х1
2,160,000
1,572,000
390,000
120,000
132,000
FVPA, end.
Current service cost
Actuarial loss
Return on plan assets
Discount rate
5%

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