Chapter 19, Problem 19.25BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.