Information on an entity's plan assets is as follows: Fair value of plan assets, Jan 1 234.000 Fair value of plan assets, Dec 31 299.000 Contributions to the retirement fund during the 120.000 year Benefits paid to retirees 79,000 Actuarial loss 12.000 Discount rate 10% How much is the return on plan assets during the year? O 24.000 O 29,400 O 37,400 O 23,400
Q: Information on SCUM REFUSE Co.'s defined benefit plan is shown below: • Fair value of plan assets,…
A: The benefit in a defined-benefit plan is predetermined: a monthly payment in retirement based on the…
Q: The Shasti Corporation reported the following for the year ending December 31, 20X1: Service…
A: Expected return on Plan Assets = Plan assets, January 1, 20X1 x Expected return on plan assets…
Q: Calculate the amount that the entity would recognize in other comprehensive income for the year in…
A:
Q: Information on an entity's plan assets is as follows: Fair value of plan assets, Jan.1 360,000…
A: Particulars: Ending fair value of plan assets = Beginning value of plan assets + contributions to…
Q: ONE Corporation provided the following information: January 1 P 3,500,000 P 3,900,000 December 31…
A: Actual return on plan assets for the current year = Ending Fair value of plan assets + benefit paid…
Q: the Sandra Company current year: 500,000 Current service cost Interest expense on PBO Interest…
A: FV (Fair value) of plan assets refers to the funds fair value which is invested to pay the…
Q: The following information is taken from the actuarial valuation report of Daddy, Inc.'s defined…
A: Employees Benefit Expenses: It is the consideration paid to an employee by the company in return…
Q: ONE Corporation provided the following information: December 31 January 1 P 3,500,000 P 3,900,000…
A: Actual return on plan assets for the current year = Ending Fair value of plan assets + benefit paid…
Q: Bonita Company sponsors a defined benefit pension plan. The corporation’s actuary provides the…
A: In the given question we are provided with the information of Bonita company. With the given…
Q: The following information pertains to Rose Corporation's defined benefit plan for the year 2019:…
A: Defined Benefit Plan:-This is the benefit enjoyed by the employees how much benefit they will…
Q: The following information is related to the defined benefit pension plan of Dreamworld Company for…
A: Interest cost = PBO, January 1 x Discount rate = 900000 x 10% = $90,000
Q: Bonita Company sponsors a defined benefit pension plan. The corporation’s actuary provides the…
A: Pension Worksheet -2020 - BONITA COMPANY
Q: 14.Ivan Company provided the following information: January1 3,500,000 December 31 Fair value of…
A: Actual return on plan assets for the current year = Ending Fair value of plan assets + benefit paid…
Q: The following information is made available involving the defined benefit pension plan of Princess…
A: Interest cost = Defined benefit obligation x discount rate = 3750000 x 10% = 375000
Q: Anna Co. sponsors a defined benefit pension plan. For the current year ended December 31, the…
A: Expected return on plan assets = Beginning Fair value of plan assets x Yield on bonds issued by the…
Q: RKR Company maintains a fund to cover its pension plan. The following data relate to the fund for…
A: Ending fair value of plan assets = Beginning fair value of plan assets + Actual return +…
Q: Projected benefit obligation 5,500,000 Unrecognized actuarial gain 850,000 The transactions for the…
A: The practice of assessing a long-term amount reliability or foreign exchange in a financial…
Q: Plan assets at fair value, January 1 630 Expected return on plan assets 63 Actual return on plan…
A: Formula: Beginning plan Assets + Actual return on plan assets + Contributions to the pension fund -…
Q: 3. Information on an entity's plan assets is shown below: Fair value of plan assets, Jan. 1 Return…
A: The fair value of plan assets at the year-end is calculated as follows:
Q: The actuarial valuation report of an entity shows the following information: Present value of…
A: 1. Particulars Amount Present value of defined benefit obligation, Jan. 1 340,000 Current…
Q: 4. Information on an entity's plan assets is shown below: 341,000 Fair value of plan assets, Jan. 1…
A: Formula: Return on plan Assets = December 31 Fair value - Jan 01 Fair value + Benefits paid -…
Q: ABC Company showed in its memorandum records the following balances for the year 2020: Fair value of…
A: Actual return on pension plan assets =Fair value of plan assets on 31/12/2020 - Fair value of plan…
Q: 19. Chanika Company provided the following information for the current year: Fair value of plan…
A: Actual return on plan assets = Ending fair value - Beginning fair value - Contribution + Benefits…
Q: 13. Information on an entity's plan asset is shown below: Fair value of plan assets, Jan. 1 Return…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: ONE Corporation provided the following information: January 1 December 31 Fair value of plan asset…
A: Actual return on plan assets for the current year = Ending Fair value of plan assets + benefit paid…
Q: , The actuarial valuation report of an entity shows the following information: Present value of…
A: Current service cost = Present value of DBO, end + Benefits paid + Actuarial gain - Interest expense…
Q: An entity's defined benefit plan has the following information: 12/31/19 12/31/20 Fair value of plan…
A: Amount that the entity would recognize in other comprehensive income for the year 2020 = Present…
Q: George Corporation has a defined benefit pension plan for its employees. The following 20X1: PBO at…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Bonita Company sponsors a defined benefit pension plan. The corporation’s actuary provides the…
A: Pension Expenses: Pension expenditure is the yearly expense incurred by a company in order to…
Q: ONE Corporation provided the following information: January 1 December 31 P 3,500,000 P 3,900,000…
A: Actual return on plan assets for the current year = Ending Fair value of plan assets + benefit paid…
Q: 10 At the beginning of the current year, the memorandum records of Anne Company’s defined benefit…
A: Defined benefit obligation is the present value of obligations that are to be paid by employer to…
Q: January 1 Fair Value of plan assets 8,750,000 During the year Pension benefits paid 600,000…
A: Formula: Actual return on plan Assets = Ending fair value of plan assets - Beginning fair value of…
Q: The following information relates to Hatami Company's defined benefit pension plan during the…
A: Plan assets end of the year = Plan assets beginning of the year + Actual return on plan assets +…
Q: An entity’s defined benefit plan has the following information: 12/31/19 12/31/20 Fair…
A: Amount that the entity would recognize in other comprehensive income for the year 2020 = Present…
Q: nalyzing Changes in Plan Assets and PBO The following information pertains to a company’s defined…
A: A Projected Benefit Obligation (PBO) is one type of measurement about amount that a company will…
Q: Pension data for Coda Corporation included the following for the current calendar year: Service cost…
A: Interest cost = PBO x discount rate = 720,000 x 10% = $72000
Q: Rachel Company revealed the following information for the current year: Fair value of plan…
A: Plan assets include the amount which a company or an organization investing in a fund account for…
Q: In relation to the asset ceiling, the amount that the entity would recognize in other comprehensive…
A: As per IAS 19, The net defined benefit from the asset is to be recognized at the lower of - 1)…
Q: Rosaria Co. sponsors a defined benefit pension plan. For the current year ended December 31, the…
A: The plan assets refers to the assets or investments made or held by long term employee benefit fund…
Q: CHOOSE THE LETTER OF THE CORRECT ANSWER What is the employee benefit expense for the current year?…
A: Acuturial gan or loss refers to an increase or decrease in the projections used to value a…
Q: Information on an entity's defined benefit plan are shown below Return on plan asset 240,000 Fair…
A: Given The fair value of plan asset 01 Jan 2020 20,00,000
Q: $ 335,438 Benefits paid to retirees Expected return on plan assets Funding contributions during the…
A: benefits paid to retiree=$335438 expected return on plan assets= $274613 funding contributions…
Q: You gathered the following information related to Ashley Company’s the defined benefit plan for the…
A: Defined benefit cost for the year = (Ending Present value of obligation + Benefits paid - Beginning…
Q: A Company provided the following pension plan information: Projected benefit obligation – January…
A: The fair value of the funds invested to pay pension obligations is said to be the fair value of plan…
Q: to X's defined benefit pension plan: The following Prepaid pension cost at the start of the year…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Generous Inc. determined the following amounts related to its pensions: $ 335,438 Benefits paid to…
A: Pension is an amount which is a big expenditure for any company. Pension expense depends on plan we…
Q: How much is actual return on plant assets? a. 200,000 b. 1,000,000 c. 1,100,000 d. 900,000
A: Ending fair value of plan assets = Beginning fair value + contributions received + interest income +…
Step by step
Solved in 2 steps
- 3. Information on an entity's plan assets is shown below: Fair value of plan assets, Jan. 1 120,000 Return on plan assets 40,000 Contributions to the retirement fund during the year 280,000 Benefits paid to retirees 160,000 Actuarial loss 60,000 How much is the fair value of the plan assets as of year-end?4. Information on an entity's plan assets is shown below: 341,000 Fair value of plan assets, Jan. 1 Contributions to the retirement fund during the year 32,000 Benefits paid to retirees 89,000 Actuarial loss 50,000 Fair value of plan assets, Dec. 31 335,000 How much is the return on plan assets during the year? a. 51,000 b. 81,000 c. 101,000 d. 1,000The following information relates to Oriole, Incorporated: Plan assets (at fair value) Pension expense Projected benefit obligation Annual contribution to plan Accumulated OCI (PSC) For the Year Ended December 31, ○ $0. O $540000. O $2460000. O $174000. 2025 $1608000 765000 1980000 810000 630000 2026 $2286000 594000 2460000 594000 540000 The amount reported as the liability for pensions on the December 31, 2026 balance sheet is
- Given the following items and amounts, compute the actual return on plan assets: fair value of plan assets at the beginning of the period $9,200,000; benefits paid during the period $1,400,000; contributions made during the period $1,000,000; and fair value of the plan assets at the end of the period $10,150,000. O a. $ 1,250,000 O b. $ 1,350,000 $ 1,400,000 O d. $ 1,450,000Information on an entity's defined benefit plan are shown below Return on plan asset 240,000 Fair value of plan asset, Jan 1, 2020 2,000,000 Benefits paid to retirees 600,000 Settlement gain on early retirement 100,000 Contributions to the fund 900,000 What is the balance of the Fair value of plan asset on December 31, 2020?What amount will be presented on the balance sheet for fiscal 2020? Fiscal 2019 Fiscal 2020 Fair value of pension plan assets Accrued pension obligation Contributions Benefits O A. $8,000,000 B. $3,000,000 deficit OC. $5,000,000 O D. $3,000,000 surplus $50,000,000 60,000,000 7,000,000 8,000,000 $45,000,000 42,000,000 10,000,000 8,000,000
- An entity provided the following information for the current year: Current service cost 500,000 Past service cost during the year 300,000 Interest on PBO 600,000 Interest income on plan assets 350,000 Loss on plan settlement before normal retirement date 250,000 Present value of benefit obligation settled in advance 950,000 Actual return on plan assets 850,000 Actuarial loss on PB0 during the year 200,000 Contribution to the plan 1,500,000 Benefits paid to retirees 1,000,000 Discount or settlement rate 10% What is the net remeasurement of the defined benefit plan for the current year?An entity provided the following information for the current year: Current service cost 500,000 Past service cost during the year 300,000 Interest on PBO 600,000 Interest income on plan assets 350,000 Loss on plan settlement before normal retirement date 250,000 Present value of benefit obligation settled in advance 950,000 Actual return on plan assets 850,000 Actuarial loss on PBO during the year 200,000 Contribution to the plan 1,500,000 Benefits paid to retirees 1,000,000 Discount or settlement rate 10% What is the employee benefit expense for the current year?An entity's defined benefit plan has the following information: 12/31/19 12/31/20 Fair value of plan assets P10 million P12 million Defined benefit 8 million 9 million obligation Discount rate 10% 10% Present value of available future refunds and reduction in future 1.6 million 2 million contributions In relation to the asset ceiling, the amount that the entity would recognize in other comprehensive income for the year 2020 is
- Information on Complicated Company's defined benefit plan is as follows: Fair value of plan assets, Jan. 1 - P480,000; Return on plan assets (Actual rate of return for the period) - 10%; Contributions to the retirement fund during the year - P800,000; Benefits paid to retirees - P200,000. How much is the balance of the fair value of plan assets as of year-end?Analyzing Changes in Plan Assets and PBO The following information pertains to a company’s defined benefit plan. Balance Fair value of plan assets, Jan. 1, 2020 $2,000 Dr. Fair value of plan assets, Dec. 31, 2020 2,250 Dr. Projected benefit obligation, Jan. 1, 2020 2,000 Cr. Net pension asset (liability), Dec. 31, 2020 80 Cr. Activity 2020 Actual return on plan assets $120 Contributions to plan assets 180 Service cost 200 Other Discount rate 8% Expected rate of return on plan assets 7% Required a. Calculate benefits paid to retirees in 2020. Note: Do not use a negative sign with your answer.$Answer b. Calculate any actuarial gain or loss on the PBO in 2020.Note: Use a negative sign to indicate a loss. $AnswerFair value of plan assets 4,750,000Unamortized past service cost 1,250,000Projected benefit obligation 5,500,000Unrecognized actuarial gain 850,000The transactions for the current year relating to the defined benefit plan are as follows:Current service cost 925,000Discount rate 6%Actual return on plan assets 485,000Contribution to the plan 1,350,000Benefits paid to retirees 995,000Increase in projected benefit obligation due to changes in actuarial assumptions 150,000Effective in the current year, the entity has applied the provisions of revised PAS 19 in relation to the definedbenefit plan.REQUIRED:15. Prepare journal entry to recognize the transitional effect of adopting revised PAS 19.16. Determine the employee benefit expense for the current year.17. Compute the remeasurement related to the defined benefit plan.18. Prepare journal entry to record the employee benefit expense.19. Compute for the Fair Value Plan Asset (FVPA) as of December 31.20. Compute for the projected benefit…