Question 13 NOTE: QUESTIONS 12 & 13 SHARE THE SAME INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END. For it's first three years of operations, Jumper Co. reported the following results: || 2020 income before taxes - $20,000 || 2021 loss before taxes - $(180,000) || 2022 income before taxes - $200,000 || Throughout these 3 years, there were no reversible or permanent differences. Jumper has a tax rate of 30% for 2020 and 2021, and 40% for 2022, and assume that any "deferred" tax asset recognized is "more likely than not to be realized". What income (loss) is reported for 2021 if Jumper elects to use the carryforward provisions and NOT the carryback provisions? O Loss of $180,000 O $0 O Loss of $116,000 O Loss of $108,000 NOTE QUESTIONS 17 to 19 SHARE INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END \\ The information below relates to the Orange & Pear Co's (O&P) 2021 calendar year. O&P follows IFRS. : || Defined Benefit Obligation (DBO) - Jan 1 ... $360,000 || Fair Value (NV) of plan assets - Jan 1...350,000 || Current Service Cost...45,000 || "Contributions" to plan...62,500 || Actual (and expected) return on plan assets...28,000 || Past service costs (effective as of Jan 1)...5,000 || Actual benefits paid to retirees...48,000 || Assuming an interest (discount) rate of 9%, what is the Fair Value (FV) of the plan assets as of Dec 31, 2021? 0 $409,500 0 $437,500 O $392,500 O $402,500 NOTE QUESTIONS 17 to 19 SHARE INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END || The information below relates to the Orange & Pear Co's (O&P) 2021 calendar year. O&P follows IFRS. : 11 Defined Benefit Obligation (DBO) - Jan 1 ... $360,000 || Fair Value (FV) of plan assets - Jan 1...350,000 || Current Service Cost...45,000 || "Contributions" to plan...62,500 || Actual (and expected) return on plan assets...28,000 || Past service costs (effective as of Jan 1)...5,000 || Actual benefits paid to retirees...48,000 || Assuming an interest (discount) rate of 9%, what is the balance of the Defined Benefit Obligation (DBO) as of Dec 31, 2021? O $362,000 O $389,400 O $394,850 O $389,850 NOTE QUESTIONS 17 to 19 SHARE INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END || The information below relates to the Orange & Pear Co's (O&P) 2021 calendar year. O&P follows IFRS. : 11 Defined Benefit Obligation (DBO) - Jan 1 ... $360,000 || Fair Value (FV) of plan assets - Jan 1...350,000 Il Current Service Cost...45,000 11 "Contributions" to plan...62,500 II Actual (and expected) return on plan assets...28,000 II Past service costs (effective as of Jan 1)...5,000 || Actual benefits paid to retirees...48,000 II Assuming an interest (discount) rate of 9%, what is the pension expense for the year ended Dec 31, 2021? O $30,000 O 554,400 O $70,000 O 554,850 Question 13 NOTE: QUESTIONS 12 & 13 SHARE THE SAME INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END. For it's first three years of operations, Jumper Co. reported the following results: || 2020 income before taxes - $20,000 || 2021 loss before taxes - $(180,000) || 2022 income before taxes - $200,000 || Throughout these 3 years, there were no reversible or permanent differences. Jumper has a tax rate of 30% for 2020 and 2021, and 40% for 2022, and assume that any "deferred" tax asset recognized is "more likely than not to be realized". What income (loss) is reported for 2021 if Jumper elects to use the carryforward provisions and NOT the carryback provisions? O Loss of $180,000 O $0 O Loss of $116,000 O Loss of $108,000 NOTE QUESTIONS 17 to 19 SHARE INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END \\ The information below relates to the Orange & Pear Co's (O&P) 2021 calendar year. O&P follows IFRS. : || Defined Benefit Obligation (DBO) - Jan 1 ... $360,000 || Fair Value (NV) of plan assets - Jan 1...350,000 || Current Service Cost...45,000 || "Contributions" to plan...62,500 || Actual (and expected) return on plan assets...28,000 || Past service costs (effective as of Jan 1)...5,000 || Actual benefits paid to retirees...48,000 || Assuming an interest (discount) rate of 9%, what is the Fair Value (FV) of the plan assets as of Dec 31, 2021? 0 $409,500 0 $437,500 O $392,500 O $402,500 NOTE QUESTIONS 17 to 19 SHARE INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END || The information below relates to the Orange & Pear Co's (O&P) 2021 calendar year. O&P follows IFRS. : 11 Defined Benefit Obligation (DBO) - Jan 1 ... $360,000 || Fair Value (FV) of plan assets - Jan 1...350,000 || Current Service Cost...45,000 || "Contributions" to plan...62,500 || Actual (and expected) return on plan assets...28,000 || Past service costs (effective as of Jan 1)...5,000 || Actual benefits paid to retirees...48,000 || Assuming an interest (discount) rate of 9%, what is the balance of the Defined Benefit Obligation (DBO) as of Dec 31, 2021? O $362,000 O $389,400 O $394,850 O $389,850 NOTE QUESTIONS 17 to 19 SHARE INFORMATION - NOTE THE QUESTION DIFFERENCE AT THE END || The information below relates to the Orange & Pear Co's (O&P) 2021 calendar year. O&P follows IFRS. : 11 Defined Benefit Obligation (DBO) - Jan 1 ... $360,000 || Fair Value (FV) of plan assets - Jan 1...350,000 Il Current Service Cost...45,000 11 "Contributions" to plan...62,500 II Actual (and expected) return on plan assets...28,000 II Past service costs (effective as of Jan 1)...5,000 || Actual benefits paid to retirees...48,000 II Assuming an interest (discount) rate of 9%, what is the pension expense for the year ended Dec 31, 2021? O $30,000 O 554,400 O $70,000 O 554,850