ual return on plan assets 300,000 Benefits paid 350,000 Contributions to the plan 780,000 Actuarial loss on remeasurement of defined benefit obligation 100,000 Discount rate 9% 1. How much is the net prepaid/accrued defined benefit cost that was shown on December 31, 2020 balance sheet? use negative sign (-) if accrued.
ual return on plan assets 300,000 Benefits paid 350,000 Contributions to the plan 780,000 Actuarial loss on remeasurement of defined benefit obligation 100,000 Discount rate 9% 1. How much is the net prepaid/accrued defined benefit cost that was shown on December 31, 2020 balance sheet? use negative sign (-) if accrued.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following information for the next four (4) questions: The memorandum records of Galinde Trading at January 1, 2021 show the following data:
Define Benefit Obligation 2,600,000
Fair value of plan asset 3,000,000
Service cost 800,000
Actual return on plan assets 300,000
Benefits paid 350,000
Contributions to the plan 780,000
Actuarial loss on remeasurement of defined benefit obligation 100,000
Discount rate 9%
1. How much is the net prepaid/accrued defined benefit cost that was shown on December 31, 2020
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