Question 1 a The following information is given about a funded defined benefit plan given to employees by the above comp

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Question 1 A The Following Information Is Given About A Funded Defined Benefit Plan Given To Employees By The Above Comp 1 (111.08 KiB) Viewed 28 times

Question 1 a The following information is given about a funded defined benefit plan given to employees by the above company who operates in the dating agency industry. To keep the computations simple, all transactions are assumed to occur at the year end. The present value of the obligation $99 $990 million and the market value of the plan' assets was $1,000 million at 1 January year one. Actuarial gains and losses are to be recognised as they occur outside the profit and loss in other comprehensive was income. * Year Three im Two $m 140 180 100 150 150 190 One * Current serrice $m cost 130 * Benefits paid * Contribution paid 90 * Present value of 1,100 obligation at 31, Dec * Market value of 1,190 plan assets at 31 Dec * Riscount rate at 1090 1,380 1,408 1,372 1,188 start of year 9 % * Expected rate of 12% 11% 10% return on plan assets at start of year Required: * Financial statement et fects for all three years.