Question
4 - Apache Company provided the following information for the current year: Fair value of plan assets, 1/1/2019 Fair value of plan assets, 12/31/2019 Projected
4 - Apache Company provided the following information for the current year: Fair value of plan assets, 1/1/2019 Fair value of plan assets, 12/31/2019 Projected benefit obligation, 1/1/2019 Projected benefit obligation, 12/31/2019 Asset ceiling, 1/1/2019 Asset ceiling, 12/31/2019 The entity gathered the following information for the current year: 3,500,000 5,200,000 2,000,000 3,100,000 800,000 1,500,000 Current service cost Contribution to the plan Actual return on plan assets 900,000 1,200,000 500,000 Discount rate 10% 14. What is the employee benefit expense for the year? a. 750,000 b. 820,000 c. 680,000 d. 900,000 15. What is the net remeasurement gain or loss for the year? a. 320,000 b. 150,000 c. 170,000 d. 250,000 16. What amount should be reported as prepaid benefit cost on December 31? a. 1,200,000 b. 2,100,000 c. 1,500,000 d. 1,300,000
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