a.
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.
The amount to be recognized in the statement of financial position at the end of the year.
c.
The value of the closing balance in accumulated other comprehensive income of current year.
d.
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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Chapter 19 Solutions
Intermediate Accounting
- During the month of March, Neji Company used $32,800 of direct materials and incurred $46,100 of direct labor costs. Jacob applied overhead to products in the amount of $21,900. If the cost of goods manufactured was $138,000 and the ending work in process balance was $23,600, the beginning work in process must have been equal to _.arrow_forwardSummit manufacturing products solve this questionarrow_forwardWhat is the contribution margin of this financial accounting question?arrow_forward
- Company would record the cost of the equipmentarrow_forwardEva owns securities with a tax basis of $5,700. She gives them to Smith when they are worth only $4,200. Smith held these securities until they were worth $6,800 and sold them. What amount of gain does he have to report on this sale?arrow_forwardGiven answer general accountingarrow_forward
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningFinancial Reporting, Financial Statement Analysis...FinanceISBN:9781285190907Author:James M. Wahlen, Stephen P. Baginski, Mark BradshawPublisher:Cengage LearningAuditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub
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