ABC Ltd contributes to a defined benefit superannuation plan for its employees. The following information is available
Question:
ABC Ltd contributes to a defined benefit superannuation plan for its employees. The following information is available for the plan at 30 June 2020.
REQUIRED:
a). Calculate the actuarial gain or loss of the plan assets for the period ended 30 June 2020. Please specify whether it is a gain or loss.
b). Calculate the actuarial gain or loss of defined benefit obligation for the period ended 30 June 2020. Please specify whether it is a gain or loss.
c). Calculate the defined benefit cost or income recognized in other comprehensive income for the period ended 30 June 2020. Please specify whether it is a cost or income?
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso