Carla Vista Corp. provides the following information about its postretirement health-care benefit plan for the year 2020:
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Question:
Carla Vista Corp. provides the following information about its post–retirement health-care benefit plan for the year 2020:
Current service cost | $204,000 | |
Contribution to the plan | 47,850 | |
Actual return on plan assets | 142,400 | |
Benefits paid | 85,000 | |
Plan assets at January 1, 2020 | 1,599,600 | |
Defined post–retirement benefit obligation at January 1, 2020 | 1,823,800 | |
Discount rate | 9% |
(a)
Assuming Opsco follows IFRS, calculate the post-retirement benefit expense for 2020.
Post–retirement benefit expense | $ |
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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