ONE Corporation provided the following information: January 1 December 31 P 3,500,000 P 3,900,000 Fair value of plan asset Market related value of plan assets Contribution to the plan Benefits paid to retirees 2,800,000 2,900,000 280,000 250,000
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1.What is the actual return on plan assets for the current year?
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- 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. 1,0003. 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?B. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED:9. Compute the amount of prepaid benefit cost that should be reported on December 31
- B. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED: 6. Compute the employee benefit expense for the current yearB. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED:8. Compute the defined benefit costB. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED:7. Compute the net remeasurement loss for the current year
- An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10%REQUIRED: . Compute the defined benefit costThe 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 isAn 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?January 1 Fair Value of plan assets 8,750,000 During the year Pension benefits paid 600,000 Contribution made to the fund 700,000 Interest income on plan assets 900,000 Remeasurement gain on plan assets December 31 Fair value of plan assets 9,950,000 What amount was reported by Jolo Company as actual return on plan assets?Information regarding define benefit plan as of December 31, 2003 15/35 follows: Fair value of pian assets, January 1 P480, 000 Fair value of plan assets, December 31 PV of define benefit obligation P 1, 128, 000 P720, 000 P800, 000 Contribution made to the fund, July 1 Benefits paid to retirees, September 30 P200, 000 6% 7) How much is the interest income on the plant asset? Discount rate a. 56, 400 b. 24, 000 C. 41, 500 d. 46, 000 8) How much is the remeasurement to the net defined liability(asset) to be recognized in other comprehensive income? a. 5, 000 gain b. 5, 000 loss C. 6,500gain d. 0