How much is actual return on plant assets? a. 200,000 b. 1,000,000 c. 1,100,000 d. 900,000
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· Fair value of plan assets, January 1: 8,750,000
· Fair value of plan assets, December 31: 9,950,000
· Pension benefits paid to retired employees: 600,000
· Interest income on plan assets: 900,000
· Contributions to the fund: 700,000
· Remeasurement gain/loss on plant assets: ??
How much is actual return on plant assets?
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- A Company provided the following information for the current year: Current service cost 500,000 Interest on PBO 600,000 Interest income on plan asset 350,000 Loss on settlement 250,000 Past service cost during the year 300,000 Actual return on plan asset 850,000 Actuarial loss during the year 200,000 Contribution to the plan 1,500,000 What is the total defined benefit cost?SJ Company provided the following information for the current year. •Current service cost - 500,000 •Interest expense on PBO - 600,000 •Interest income on plan assets - 350,000 •Loss on plan settlement before normal retirement date - 250,000 •Present value of benefit obligation settled in advance - 950,000 •Past service cost during the year - 300,000 •Actual return on plan assets - 850,000 •Actuarial loss on PBO during the year - 200,000 •Contribution to the plan - 1,500,000 •Benefits paid to retirees - 1,000,000 •Discount or settlement rate - 10% What is the net remeasurement for the current year? a. 500,000 gain b.200,000 loss c.300,000 gain d.300,000 lossA Company provided the following information for the current year: Fair value of plan assets – January 1 3,500,000 Fair value of plan assets – December 31 5,250,000 Employer contribution 1,100,000 Benefits paid 850,000 What was the actual return on plan assets for the current year?
- A Company provided the following information for the current year: Current service cost 500,000 Interest on PBO 600,000 Interest income on plan asset 350,000 Loss on settlement 250,000 Past service cost during the year 300,000 Actual return on plan asset 850,000 Actuarial loss during the year 200,000 Contribution to the plan 1,500,000 What is the employee benefit expense for the current year?Richelle Company provided the following information during the current year: January 1 December 31 Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What amount of prepaid benefit cost should be reported on December 31?You gathered the following information related to Ashley Company’s the defined benefit plan for the current year ended December 31: Fair value of plan assets: P2,100 million at January 1, and P2,300 million at December 31 Present value of obligation to provide benefits: P2,200 million at January 1, and P2,600 million at December 31 Contributions paid to the fund: P80 million Benefits paid to retired employees: P50 million The defined benefit cost for the year is A P250 million B P280 million C P200 million D P120 million
- Richelle Company provided the following information during the current year: 1-Jan 31-Dec Fair value of plan assets 6,000,000 8,500,000 Projected benefit obligation 5,000,000 6,500,000 Prepaid/accrued benefit cost - surplus 1,000,000 2,000,000 Asset ceiling 700,000 1,200,000 Effect of asset ceiling 300,000 800,000 During the year, entity recognized current service cost of P1,000,000, actual return on plan assets of P400,000, and contribution to plan of P2,100,000. The discount rate is 10%. What amount of prepaid benefit cost should be reported on December 31? Group of answer choices 500,000 2,000,000 1,200,000 800,000William and Raj Company provided the following information for the year:Projected benefit obligation - January 1 P 700,000Fair value of plan assets - January 1 560,000Pension benefits paid during the year 50,000Current service cost for the year 350,000Past service cost for the year (vesting period 5 years) 85,000Actual return on plan assets 36,000Contributions to the plan 300,000Actuarial loss due to change in assumptions on projected benefit obligation 40,000Discount or settlement rate 10%Expected return on plan assets 12%1. What is the employee benefit expense for the current year?2. How much is the actuarial gain/loss on return on plan assets?3. What is the prepaid/accrued balance of the pension at yearend?4. How much is the defined benefit cost?5. If the pension benefits paid during the year is worth P50,000 but the company was able to pay only P45,000, what would be the employee benefitexpense for the current year assuming the above given is the same?Information on Balinquit Company’s defined benefit plan is shown below: Fair value of plan asset, January 1 480,000 Return on plan assets (actual rate of return for the period) 10% Contribution to the retirement fund during the year 800,000 Benefits paid to retirees 200,000 How much is the balance of the fair value of plan assets as of year-end?
- Information on Complicated Company's defined benefit plan is as follows: Fair value of plan assets, Jan. 1 - P480,000; Return on plan assets (Actual rate of return for the period) - 10%; Contributions to the retirement fund during the year - P800,000; Benefits paid to retirees - P200,000. How much is the balance of the fair value of plan assets as of year-end?19. Chanika Company provided the following information for the current year: Fair value of plan assets – January 1 3,500,000 Fair value of plan assets – December 31 5,250,000 Employer contribution 1,100,000 Benefits paid 850,000 What was the actual return on plan assets for the current year? Group of answer choices 1,500,000 1,750,000 2,600,000 2,000,000A Corporation began construction work in 2019 for a project with a contract price of P8,000,000. The Corporation uses the percentage-of-completion (Over time) method. The financial statements for 2019 relating to the contract shows the following: Accounts receivable P500,000 Construction in progress 1,600,000 Progress billings to date 1,500,000 Gross profit earned in 200,000 1.) Compute the cash collections for the year 2019 2.) Compute the costs incurred to date on the year 2019.
