Englehart AG provides the following information about its postretirement benefit plan for the year 2019. Service cost...............................................................................................
Question:
Englehart AG provides the following information about its postretirement benefit plan for the year 2019.
Service cost...............................................................................................€ 90,000
Contribution to the plan............................................................................56,000
Actual return on plan assets.....................................................................62,000
Benefits paid...............................................................................................40,000
Plan assets at January 1, 2019................................................................710,000
Defined postretirement benefit obligation at January 1, 2019...........760,000
Accumulated OCI (Loss) at January 1, 2019.............................................100 Dr.
Discount (interest) rate.....................................................................................9%
Instructions
Compute the postretirement benefit expense for 2019?
Step by Step Answer:
Servicecost 90000 Interestexpe...View the full answer
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
