The value of total pension cost for the year 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

Chapter 19, Problem 19.9P

a.

To determine

The value of total pension cost for the year 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 value of the pension related other comprehensive income for the current year.

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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The following information relates to Schmidt Sausage Company's defined benefit pension plan during the current reporting year: Plan assets beginning of the year Expected return on plan assets Actual return on plan assets Cash contributions Amortization of net loss Retiree benefits ($ in millions) Pension plan assets of the year $ 580 58 49 78 9 10 Required: Determine the amount of pension plan assets at fair value on December 31. Note: Enter your answers in millions.

Part 1 and part 2 of this question please

Answer 2

Question

Chapter 19, Problem 19.9P

a.

To determine

The value of total pension cost for the year 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 value of the pension related other comprehensive income for the current year.

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

Chapter 19, Problem 19.9P

a.

To determine

The value of total pension cost for the year 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 value of the pension related other comprehensive income for the current year.

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

Chapter 19, Problem 19.9P

a.

To determine

The value of total pension cost for the year 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 value of the pension related other comprehensive income for the current year.

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 19.9P

a.

To determine

The value of total pension cost for the year 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 value of the pension related other comprehensive income for the current year.

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 19.9P

a.

To determine

The value of total pension cost for the year 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 19.9P

a.

To determine

The value of total pension cost for the year 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 value of the pension related other comprehensive income for the current year.

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 9

b.

To determine

The value of the pension related other comprehensive income for the current year.

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 10

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Answer 13

Ch. 19 - What is the allocation period used to expense...Ch. 19 - How do companies account for stock-based...Ch. 19 - Do companies with equity-based compensation plans...Ch. 19 - When accounting for employee stock options, will a...Ch. 19 - Prob. 19.5Q Ch. 19 - Prob. 19.6Q Ch. 19 - Prob. 19.7Q Ch. 19 - Prob. 19.8Q Ch. 19 - Prob. 19.9Q Ch. 19 - Prob. 19.10Q

Solution Summary: The author calculates the value of the pension related other comprehensive income for the current year.

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