Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
1st Edition
ISBN: 9780134047430
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
Question
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Chapter 19, Problem 19.11P

a.

To determine

The value of closing balance of plan assets, value of closing balance of PVDBO and the funded status as per IFRS.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PVDBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PVDBOat the beginning is $93,932.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Actuarial loss is $18,252.

b.

To determine

The amount to be recognized in the statement of financial position at the end of the year.

c.

To determine

The value of the closing balance in accumulated other comprehensive income of current year.

d.

To determine

The components of net periodic benefit cost and other amounts recognized in net income.

Given information:

Fair value of plan assets at the beginning is $1,006,902.

Value of PVDBO at the beginning is $1,043,692.

Service cost is $58,084.

Interest on PVDBOat the beginning is $93,932.

Expected rate on plan assets is 9%.

Actual return on plan assets is $84,500.

Contribution for the year is $92,612.

Benefit paid for the year is $48,672.

Actuarial loss is $18,252.

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Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition

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