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For 100, choices are: A. 250,000 gain B. 600,000 loss C. 250,000 loss D. 150,000 gain *Solutions and explanations are very much appreciated. Margaret Alarcio
For 100, choices are:
A. 250,000 gain
B. 600,000 loss
C. 250,000 loss
D. 150,000 gain
*Solutions and explanations are very much appreciated.
Margaret Alarcio Company reported a prepaid benefit cost of P1,500,000 on January 1, 2019. The entity provided the following information related to a defined benefit plan during the current year: Current service cost........... 3,000,000 Actual return on plan assets..... 1,200,000 Interest cost........... 800,000 Settlement price of benefit obligation paid in advance..... 500,000 Present value of benefit obligation paid in advance..... 600,000 Interest income.......... 1,000,000 Actuarial loss in PBO..... 400,000 Past service cost..... 500,000 Benefits paid to retirees..... 2,500,000 Contribution to the plan..... 4,000,000 Projected benefit obligation - January 1..... 8,000,000 Fair value of plan assets - January 1..... 10,000,000 Asset ceiling - January 1...... 1,500,000 Asset ceiling - December 31..... 2,000,000 Discount rate.......... 10% ...... ......... ... ..... .............................................................................................. C. 3,300,000 D. 3,000,000 97) What is the 2019 benefit expense? A. 3,250,000 B. 3,350,000 98) What is the fair value of the plan asset at December 31? A. 12,700,000 B. 12,200,000 99) What is the projected benefit obligation at December 31? A. 9,700,000 B. 9,600,000 100) What is the net remeasurement gain or loss in OCI? C. 12,100,000 D. 10,000,000 C. 8,900,000 D. 8,800,000Step by Step Solution
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