The Following information relates to the pension plan of SSL limited. 1-Jun-12 31-May-13 $m $m 28...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Following information relates to the pension plan of SSL limited. 1-Jun-12 31-May-13 $m $m 28 29 30 25 Fair value of plan assets Actuarial value of defined benefit obligation The contributions for the period received by the fund were $4 million and the employee benefits paid in the year amounted to $6 million. The discount rate to be used in any calculation is 5%. The current service cost for the period based on actuarial calculations is $1 million. The above figures have not been taken into account for the year ended 31 May 2013 except for the contributions paid which have been entered in cash and the defined benefit obligation. Required: Calculate the amounts that will appear in the financial statements of SSL for the year-ended May 31, 2013. The Following information relates to the pension plan of SSL limited. 1-Jun-12 31-May-13 $m $m 28 29 30 25 Fair value of plan assets Actuarial value of defined benefit obligation The contributions for the period received by the fund were $4 million and the employee benefits paid in the year amounted to $6 million. The discount rate to be used in any calculation is 5%. The current service cost for the period based on actuarial calculations is $1 million. The above figures have not been taken into account for the year ended 31 May 2013 except for the contributions paid which have been entered in cash and the defined benefit obligation. Required: Calculate the amounts that will appear in the financial statements of SSL for the year-ended May 31, 2013.
Expert Answer:
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
Students also viewed these finance questions
-
Townsend, a public limited company, operates in the manufacturing sector. Townsend has investments in two other companies. The draft statements of financial position at 31 May 2019 are as follows:...
-
Old Office Building Karas Investments owns a small office building in Windhoek, from which the company operates. The Windhoek office was purchased on 1 March 2019. Karas Investments decided to move...
-
The following information relates to the defined benefits pension scheme of BGA, a listed entity. The present value of the scheme obligations at 1 November 2006 was $18 360 000, while the fair value...
-
Verify each identity by comparing the graph of the left side with the graph of the right side on a calculator. sin 4x(cos 2x - sin2x) sin 8x 2
-
Assume the OS for a set of workstations provides a message-passing mechanism. Explain how one might implement a shared memory environment on top of the mechanism. Think of arguments explaining why...
-
Benton Corporation manufactures computer microphones, which come in two models: Standard and Premium. Data for a representative quarter for the two models follow: Units produced Standard 15,200...
-
Martin Kline, engagement partner for RCT Manufacturing Company, a February 28, 1999, year end client, is performing analytical procedures to better understand RCT's business and to determine where...
-
Orchard Company has monthly salaries of $10,000. Assume Orchard pays all the standard payroll taxes and no employees have reached the payroll tax limits. Journalize the accrual and payment of...
-
Thonny Coding. # Question 1: # Create a list using List Comprehension. # assign it to a variable. # this list should have a random length: ##### -> using range() in your List Comprehension ->...
-
A survey by the Arthur Andersen Enterprise Group/ National Small Business United attempted to determine what the leading challenges are for the growth and survival of small businesses. Although the...
-
Comparative Income statement and Comparative balance sheet of Manfield, Inc. for the year ended December 31, 2024 and 2023 are given Manfield, Inc. Comparative Income Statement Years Ended December...
-
Find the below questions for Finland. You may use the FRED, the World Development Indicators (WDI) database by the World Bank, OR the OECD. Stat database to respond to the following questions. 1)...
-
Thomas is trying to decide which credit card to apply for. He has just received some advertising from several large credit card companies, some of which feature low introductory rates. He has...
-
As part of its commitment to expanding its infrastructure, UNSW proposes to build a multistorey complex called the Science and Engineering Building which will provide teaching and learning spaces for...
-
Ms XYZ is a chef-turned-housewife, who could dish out plates of traditional Indian delicacies. She terminated her employment as Head Chef with Indian Accent - a famous restaurant in New Delhi, India,...
-
To better see how the growth rate evolves through time, plot the annualized growth rate of consumption expenditure. Describe what you see. Is it constant on average? Please use this data: Year...
-
If you were to win the lotto for 100mil today and were given an option to receive 5.5m for 25 years. Given that interest is currently doing at 3%, which option will you choose? Provide a comparative...
-
What is the back work ratio? What are typical back work ratio values for gas-turbine engines?
-
Complete the blanks in the five criteria to identify a contract with a customer. 1. All parties agree to the _______________ and commit to _____________. 2. E ach partys rights with respect to the...
-
What is the recognition principle and when is an item considered recognized?
-
Arthur Lloyd Associates provided the following information regarding its inventory for the current year, its second year of operations. Required Compute Arthur Lloyds ending inventory and cost of...
-
Derive the stiffness matrix of each of the systems shown in Figs.6.21 using the indicated coordinates. Pulley, mass M, mass moment of inertia Jo 2k k 3r 000 0 3m x1(t) F(t) I x2(t) m T x3(t) F2(t) 3k...
-
A simplified model of the main landing gear system of a small airplane is shown in Fig. 6.27 with \(m_{1}=100 \mathrm{~kg}, m_{2}=5000 \mathrm{~kg}, k_{1}=10^{4} \mathrm{~N} / \mathrm{m}\), and...
-
Derive the stiffness matrix of each of the systems shown in Figs. 6.18 using the indicated coordinates. F(t) 5k 0000 m2 F2(t) m1 k k x1(t) F3(t) 00000 m3 k k x(1) X3(1) FIGURE 6.18...
Study smarter with the SolutionInn App