Question: JSX, a listed entity, has a defined benefits pension scheme. The following information relates the pension scheme for the year ended 31 October 2008: Current
Current service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 362 000
Contributions to scheme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .550 000
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 662 400
Fair value of scheme assets at 1 November 2007 . . . . . . . . . . 10 660 000
Fair value of scheme assets at 31 October 2008 . . . . . . . . . . . 11 204 000
Interest cost in respect of the defined benefit obligation . . . . 730 000
The expected return on scheme assets for the year ended 31 October 2008 was 6.2 %.
Required:
Calculate the actuarial gain and loss on JSX's pension scheme assets for the year ended 31 October 2008.
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