Reference no: EM133008539
Problem - Corporation established a defined benefit plan for its employees and provided the following information: Fair value of plan assets as of January 1 was P5,500,000 and December 31 P6,300,000, Projected benefit obligation as of January 1 was P6,000,000 and December 31 P6,800,000. Current and past service cost were P700,000 and P550,000, respectively. Contributions to the plan during the year was P900,000 while benefits paid during the year was P450,000. The expected rate of return on plan assets was 10%, the weighted average rate of return for plan assets was 9.5%, the discount rate for plan assets was 8%.
Required -
1. What is the employee benefit expense for the current year?
2. How much is the actuarial gain/loss on return on plan assets?
3. What is the prepaid/accrued balance of the pension at yearend?
4. How much is the defined benefit cost?
|
What is the amount of the account investments
: What is the amount of the account investments in short-term obligations in transaction that will be carried out on June 15, 2025
|
|
Find the total market value of the bond
: Cryote issued bonds with a total face value of $100 million in July 20x9. Find the total market value of the bond, assuming that the yield demanded is 10%
|
|
What are the respective ending balances of three partners
: The partnership consists of Partners A, B and C with ending capital balances based on a ratio of 5:2:3. What are the respective ending balances of three partner
|
|
Prepare consolidation journal entries that Large Ltd need
: Based on the above information, prepare the consolidation journal entries that Large Ltd will need to pass on 30 June 2020
|
|
What is the employee benefit expense for the current year
: Fair value of plan assets as of January 1 was P5,500,000 and December 31 P6,300,000, What is the employee benefit expense for the current year
|
|
What factors must any company consider before accepting
: Technology Inc. Ltd sells desktop computer printers for $65 per unit. What factors must any company consider before accepting a special-order contract
|
|
Explain the rule for translating the financial statements
: Explain the rule for translating the Financial Statements of Foreign Operations from Functional Currency to Presentation Currency
|
|
Calculate the half-yearly payment required
: A couple purchased a home and signed a mortgage contract for $500,000 to be paid. Calculate the half-yearly payment required
|
|
Write an expression for the monthly cost
: Write an expression for the monthly cost of watching a hours of standard con- tent and 19 hours of premium content using Plan 1
|