Presented below is information related to Kiwi Ltd. for calendar 2020. The corporation uses IFRS. Defined benefit obliga
Posted: Fri Jul 01, 2022 8:28 am
Presented below is information related to Kiwi Ltd. for calendar2020. The corporation uses IFRS.
Defined benefit obligation, Jan 1......................$720,000
Fair value of plan assets, Jan 1........................700,000
Current service cost.........................................90,000
Contributions to plan.......................................125,000
Actual and expected return on plan assets...... 56,000
Past service costs (effective Jan 1)..................10,000
Benefits paid to retirees..................................96,000
Interest (discount) rate....................................9%
The fair value of the plan assets at December 31, 2020 is
a)$785,000.
b)$819,000.
c)$805,000.
d)$875,000.
Defined benefit obligation, Jan 1......................$720,000
Fair value of plan assets, Jan 1........................700,000
Current service cost.........................................90,000
Contributions to plan.......................................125,000
Actual and expected return on plan assets...... 56,000
Past service costs (effective Jan 1)..................10,000
Benefits paid to retirees..................................96,000
Interest (discount) rate....................................9%
The fair value of the plan assets at December 31, 2020 is
a)$785,000.
b)$819,000.
c)$805,000.
d)$875,000.