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Please solve both E19-3 and E19-4. Instructi (a) What amount of annual pension expencl (b) Prepare a summary jou nal entry to record Ad Venture
Please solve both E19-3 and E19-4.
Instructi (a) What amount of annual pension expencl (b) Prepare a summary jou nal entry to record Ad Venture Ltd.sl 4, 5, E19-3 (Continuit 7, 9) information about its defined benefit pension plan for the year 201 y Schedules and Calculation of Pension Expense) Rebek Corporatio Current service cost Contribution to the plan Past service cost, effective December 31, 2017 Actual return on plan assets Benefits paid Net defined benefit liability at January 1, 2017 Plan assets at January 1, 2017 235,000 262,500 50,000 160,000 100,000 400,000 1,600,000 2,000,000 10% Defined benefit obligation at January 1, 2017 Interest/discount rate on the DBO and plan assets Rebek follows IFRS. Instructions (a) Prepare a continuity schedule for 2017 for the defined benefit obligation (b) Prepare a continuity schedule for 2017 for the plan assets. (c) Calculate pension expense for the year 2017 (d) Prepare all pension journal entries recorded by Rebek in 2017 (e) What pension amount will appear on Rebek's statement of financial po E19-4 (Preparation of Pension Work Sheet) Refer to the information for Rebek Corporation in E19-3. Instructions (a) Prepare a pension work sheet: insert the January 1, 2017 balances and show the December 31, 2017 balances. (b) Prepare all journal entries. (c) What is the amount of the plan's surplus/deficit at December 31,2017Step by Step Solution
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