1. How much is Employee Benefit Expense? 2. How much is Net remeasurement gain? 3. How much...
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1. How much is Employee Benefit Expense?
2. How much is Net remeasurement gain?
3. How much is the ending balance of Accrued-benefit-cost at year-end?
Transcribed Image Text:
The related data of Mexico Company: At the beginning of the current year, the memorandum of records show the following information: Fair value of Plan Assets Projected benefit obligation Prepaid /Accrued benefit-cost During the current year, the following transactions are: Current service cost Past service cost 475,000 Actual return on plan assets Contribution to the plan P7,250,000 7,500,000 P-250,000 Benefits paid Actuarial gain due to decrease in PBO Discount rate Expected rate of return P980,000 875,000 1,000,000 790,000 200,000 12% 10% The related data of Mexico Company: At the beginning of the current year, the memorandum of records show the following information: Fair value of Plan Assets Projected benefit obligation Prepaid /Accrued benefit-cost During the current year, the following transactions are: Current service cost Past service cost 475,000 Actual return on plan assets Contribution to the plan P7,250,000 7,500,000 P-250,000 Benefits paid Actuarial gain due to decrease in PBO Discount rate Expected rate of return P980,000 875,000 1,000,000 790,000 200,000 12% 10%
Expert Answer:
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Using the given information we can calculate various actuarial items related to the companys defined ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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