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how much is the net remeasurement gain/loss at the end of the year?

how much is the net remeasurement gain/loss at the end of the year?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 11RE
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On January 1, 2020, Blue team Company has a Benefit Plan Obligation worth 20,000,000. The actuaries during that time estimated that the accrued benefit cost in connection to the BPO is 2,000,000 from a plan asset designated to pay the retirees. During the year, this plan asset have been invested in various financial activities and had an actual returns worth 3000,000. The discount rate is 10% for both plan asset and PBO. Due to difference in actuarial assumptions, the Projected Benefit Obligation decreased by an amount worth 500,000 at the end of the year. how much is the net remeasurement gain/loss at the end of the year? (no negative answers neither gain nor loss)
Transcribed Image Text:On January 1, 2020, Blue team Company has a Benefit Plan Obligation worth 20,000,000. The actuaries during that time estimated that the accrued benefit cost in connection to the BPO is 2,000,000 from a plan asset designated to pay the retirees. During the year, this plan asset have been invested in various financial activities and had an actual returns worth 3000,000. The discount rate is 10% for both plan asset and PBO. Due to difference in actuarial assumptions, the Projected Benefit Obligation decreased by an amount worth 500,000 at the end of the year. how much is the net remeasurement gain/loss at the end of the year? (no negative answers neither gain nor loss)
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