Question
Aylmer Corporation is a privately owned company that uses IFRS. On January 1, Y4 Aylmer's financial records indicated the following information related to the company's
Aylmer Corporation is a privately owned company that uses IFRS. On January 1, Y4 Aylmer's financial records indicated the following information related to the company's defined benefit pension plan: | |
Defined Benefit Obligation | 1,651,000 |
Pension Plan Assets | 1,765,000 |
Aylmer Corporation's actuary provided the following information on December 31, Y4: | |
Current year service cost | $97,000 |
Prior service cost, granted Jan 1, Y4 | 195,400 |
Employer contributions for the year | 94,660 |
Benefits paid to retirees | 27,600 |
Expected return on assets | 5.0% |
Actual return on assets | 5.5% |
Discount rate | 5.0% |
For the year ended December 31, Y4, how much should be reported in OCI (Other Comprehensive Income)?
Please enter your answer as a dollar amount. Ex: $12,345
Aylmer Corporation is a privately owned company that uses IFRS. On January 1, Y4 Aylmer's financial records indicated the following information related to the company's defined benefit pension plan: | |
Defined Benefit Obligation | 1,651,000 |
Pension Plan Assets | 1,765,000 |
Aylmer Corporation's actuary provided the following information on December 31, Y4: | |
Current year service cost | $97,000 |
Prior service cost, granted Jan 1, Y4 | 195,400 |
Employer contributions for the year | 94,660 |
Benefits paid to retirees | 27,600 |
Expected return on assets | 5.0% |
Actual return on assets | 5.5% |
Discount rate | 5.0% |
For the year ended December 31, Y4, how much is the pension expense?
Please enter your answer as a dollar amount. Ex: $12,345
Aylmer Corporation is a privately owned company that uses IFRS. On January 1, Y4 Aylmer's financial records indicated the following information related to the company's defined benefit pension plan: | |
Defined Benefit Obligation | 1,651,000 |
Pension Plan Assets | 1,765,000 |
Aylmer Corporation's actuary provided the following information on December 31, Y4: | |
Current year service cost | $97,000 |
Prior service cost, granted Jan 1, Y4 | 195,400 |
Employer contributions for the year | 94,660 |
Benefits paid to retirees | 27,600 |
Expected return on assets | 5.0% |
Actual return on assets | 5.5% |
Discount rate | 5.0% |
For the year ended December 31, Y4, how much is the defined benefit obligation (DBO)?
Please enter your answer as a dollar amount. Ex: $12,345
Aylmer Corporation is a privately owned company that uses IFRS. On January 1, Y4 Aylmer's financial records indicated the following information related to the company's defined benefit pension plan: | |
Defined Benefit Obligation | 1,651,000 |
Pension Plan Assets | 1,765,000 |
Aylmer Corporation's actuary provided the following information on December 31, Y4: | |
Current year service cost | $97,000 |
Prior service cost, granted Jan 1, Y4 | 195,400 |
Employer contributions for the year | 94,660 |
Benefits paid to retirees | 27,600 |
Expected return on assets | 5.0% |
Actual return on assets | 5.5% |
Discount rate | 5.0% |
For the year ended December 31, Y4, how much are the plan assets?
Please enter your answer as a dollar amount. Ex: $12,345
On December 31, Y6, East Inc. leased machinery with a fair value of $420,000 from North Rentals. The agreement is a six-year non-cancellable lease requiring annual payments of $80,000 beginning December 31, Y6. The lease is appropriately accounted for by East as a finance lease. The present value of the lease payments was $383,264. East adheres to IFRS. On its December 31, Y6 statement of financial position, how much should East report as a lease liability?
Please enter your answer as a dollar amount. Ex: $12,345
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