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.

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Answer 1

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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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Blockbuster Co is building a new state of the art cineplex at a cost of $3,500,000.They received a capital investment of $1,500,000. The remainder of funds will haveto be borrowed so they decided to issue bonds. They have issued 10.5%, 5-yearbonds. These bonds were issued on January 1st, 2020, and pay semi-annual intereston July 1st and January 1st. The bonds yield 10%. The year end is December 31st Calculate the proceeds from the sale of the bond. Clearly show theamount of the premium or discount and state two reasons which supportthe premium or discount calculated

Answer 2

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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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Answer 3

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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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Answer 4

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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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Answer 5

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.

Answer 6

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.

Answer 7

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.

Answer 8

b.

To determine

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

Answer 9

b.

To determine

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

Answer 10

c.

To determine

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

Answer 11

c.

To determine

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

Answer 12

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.

Answer 13

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.

Answer 14

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Answer 15

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Answer 16

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Answer 17

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Solution Summary: The author explains the value of closing balance of plan assets and PVDBO and the funded status as per IFRS.

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

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

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Chapter 19 Solutions