yuletide corporation reported the following data on january 1, 2021: projected benefit obligation 10,000,000 fair value of plan assets 9,000,000 during the currrent year, the actuary determined the current service cost at 2,000,000 and interest cost at 1,000,000. the interest income on plan assets was 900,000 while the actual return on plan assets was 600,000. there was a decrease in the projected benefit obligation due to changes in actuarial assumptions of 200,000. the average ramaining service period of the employees in 10 years.   What is the defined benefit cost for the current year? a. 2,000,000 b. 2,500,000 c. 2,200,000 d. 2,100,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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yuletide corporation reported the following data on january 1, 2021:

projected benefit obligation 10,000,000

fair value of plan assets 9,000,000

during the currrent year, the actuary determined the current service cost at 2,000,000 and interest cost at 1,000,000. the interest income on plan assets was 900,000 while the actual return on plan assets was 600,000. there was a decrease in the projected benefit obligation due to changes in actuarial assumptions of 200,000. the average ramaining service period of the employees in 10 years.

 

What is the defined benefit cost for the current year?

a. 2,000,000

b. 2,500,000

c. 2,200,000

d. 2,100,000

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