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#14 Stefan company provided the following information in relation to a defined benefit plan for the current year: January 1 December 31 Fair value of plan assets 1,300,000 1,500,000 Projected benefit obligation 1,000,000 1,050,000 Prepaid/accrued benefit cost-surplus 300,000 450,000 Asset ceiling 100,000 150,000 Effect of asset ceiling 200,000 300,000 Current service cost 50,000 Contribution to the plan 175,000 Benefits paid 75,000 Discount rate 10% What is the net remeasurement loss for the current year? 85,000 pls provide solution for this answer

#14 Stefan company provided the following information in relation to a defined benefit plan for the current year: January 1 December 31 Fair value of plan assets 1,300,000 1,500,000 Projected benefit obligation 1,000,000 1,050,000 Prepaid/accrued benefit cost-surplus 300,000 450,000 Asset ceiling 100,000 150,000 Effect of asset ceiling 200,000 300,000 Current service cost 50,000 Contribution to the plan 175,000 Benefits paid 75,000 Discount rate 10% What is the net remeasurement loss for the current year? 85,000 pls provide solution for this answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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#14
Stefan company provided the following information in relation to a defined benefit plan for the
current year:
January 1 December 31
Fair value of plan assets 1,300,000 1,500,000
Projected benefit obligation 1,000,000 1,050,000
Prepaid/accrued benefit cost-surplus 300,000 450,000
Asset ceiling 100,000 150,000
Effect of asset ceiling 200,000 300,000
Current service cost 50,000
Contribution to the plan 175,000
Benefits paid 75,000
Discount rate 10%
What is the net remeasurement loss for the current year? 85,000 pls provide solution for this answer

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