The following information on a defined benefit plan is provided: FVPA, beg 2,800,000 PVDBO, beg 2,200,000 Current Service Cost 960,000 Past service cost (vesting for 5 years) 600,000 Benefits Paid 420,000 Return on Plan Assets 600,000 Contributions to the Plan 1,820,000 Increase due to Actuarial Assumptions 240,000 Expected Rate of Return 12% Discount Rate 10% The present value of economic benefits available in the form of refunds from the plan are 400,000 and 800,000, at the beginning and ending of the period. What amount of defined benefit cost is presented in OCI?
The following information on a defined benefit plan is provided: FVPA, beg 2,800,000 PVDBO, beg 2,200,000 Current Service Cost 960,000 Past service cost (vesting for 5 years) 600,000 Benefits Paid 420,000 Return on Plan Assets 600,000 Contributions to the Plan 1,820,000 Increase due to Actuarial Assumptions 240,000 Expected Rate of Return 12% Discount Rate 10% The present value of economic benefits available in the form of refunds from the plan are 400,000 and 800,000, at the beginning and ending of the period. What amount of defined benefit cost is presented in OCI?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information on a defined benefit plan is provided:
FVPA, beg 2,800,000
PVDBO, beg 2,200,000
Current Service Cost 960,000
Past service cost (vesting for 5 years) 600,000
Benefits Paid 420,000
Return on Plan Assets 600,000
Contributions to the Plan 1,820,000
Increase due to Actuarial Assumptions 240,000
Expected Rate of Return 12%
Discount Rate 10%
The present value of economic benefits available in the form of refunds from the plan are 400,000 and 800,000, at the beginning and ending of the period.
What amount of defined benefit cost is presented in OCI?
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