The following information is available for Figgy Enterprises Ltd. for calendar 2017. The corporation uses IFRS....
The following information is available for Figgy Enterprises Ltd. for calendar 2017. The corporation uses IFRS.
Plan assets (at fair value), end of year................... $1,800,000 Dr
Defined benefit obligation, end of year................... 1,920,000 Cr
Pension expense....................................................... 360,000
Contributions for year................................................ 324,000
The pension expense to be reported for 2017 is :
a) $360,000.
b) $346,000.
c) $324,000.
d) $120,000.
Homework Answers
The pension expense to be reported for 2017 is :
$360000
It is also given in question
Option (a) is correct
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The following information is available for Figgy Enterprises
Ltd. for calendar 2017. The corporation uses IFRS....
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Interest/discount (settlement) rate
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Service cost
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Contribution to the plan
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Prior service cost amortization
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Actual and expected return on plan assets
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Benefits paid
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Plan assets at January 1, 2017
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Projected benefit obligation at January 1, 2017
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Accumulated OCI (PSC) at January 1, 2017
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Interest/discount (settlement) rate
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