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

Q: Company provided the following information for the current year. •Current service cost - 500,000…

A: Employee Benefits includes various obligations of the employer towards the employee, which are in…

Q: The memorandum records of Galindez Trading at January 1, 2021 show the following data:     Define…

A: Retirement benefit-cost taken to other comprehensive income for the year 2021 = Change in Return on…

Q: Information about the defined benefit plan of the company are shown below Defined benefit…

A: Settelment cost = Defined benefit obligation, January 1, 2021 x Discount rate = 5,500,000 x 5% =…

Q: The following information is taken from the actuarial valuation report of Daddy, Inc.'s defined…

A: Employees Benefit Expenses: It is the consideration paid to an employee  by  the company  in return…

Q: You have been provided with the following information related to the year 2020. The company is a…

A: Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: On January 1, 2021 COMET Company provided the following data in connection  with the defined benefit…

A: Interest costs = Projected benefit obligation x Discount rate = ₱7,600,000 x 10% = ₱760,000

Q: retirement benefit cost that is taken to other comprehensive income

A: The employee benefits is computed for the year as principals laid down in IAS19

Q: On December 31, 2020, ABC Company had the following balances in its memorandum records related to…

A: Interest costs = Benefit Obligation, December 31, 2020, x discount rate = P12,000,000 x 12% =…

Q: The memorandum records of Galindez Trading at January 1, 2021 show the following data: Define…

A: Retirement benefits are those benefits which the employee receives after retiring from the…

Q: E. Charlton Company provided the following information concerning a defined benefit plan at the…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Information on Batman Corp.'s defined benefit plan follows: • Fair value of plan assets, January 1-…

A: Defined benefit-cost includes all compensation cost(current and past) and interest expense on the…

Q: On January 1, 2021 COMET Company provided the following data in connection with the defined benefit…

A: Interest costs = Projected benefit obligation x Discount rate = ₱7,600,000 x 10% = ₱760,000 Expected…

Q: The following information pertains to Rose Corporation's defined benefit plan for the year 2019:…

A: Defined Benefit Plan:-This is the benefit enjoyed by the employees how much benefit they will…

Q: At the start of the year,Boy had the following balances in its pension benefit memo records: Fair…

A: Interest costs = Accrued benefit obligations x Discount rate = 3,200,000 x 9% = 288,000

Q: An entity provided the following items related to its defined benefit plan for 2019: January 1…

A: Interest rate = Interest income / Fair value of plan assets at beginning = 160000/1600000 = 10%

Q: he following date relate to the defined benefit plan of ABC Company for the year ended December 31,…

A: Fair Value of plan asset, January 2, 2020- P14,000,000 Contribution during the year- P1,050,000…

Q: 4 You gathered the following information related to Ashley Company’s the defined benefit plan for…

A: Defined benefit cost for the year means how much amount needs to be expense out for the defined…

Q: The following information is made available involving the defined benefit pension plan of Princess…

A: Interest cost = Defined benefit obligation x discount rate = 3750000 x 10% = 375000

Q: The following information relates to Irasly Inc. at December 31,2002: Fair value of plan assets…

A: Formula: Net defined benefit liability at December 31, 2002 = Projected benefit obligation - Fair…

Q: PUP CAF Company has the following information related to its defined benefit plan for year 2021: >…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The following date relate to the defined benefit plan of Bronson Company for the year ended December…

A: As per relevant IAS, Employee benefit if there is any loss or gain in defined benefit obligation…

Q: Rachel Company revealed the following information for the current year: Fair value of plan…

A: Defined benefit plan. Under this plan, the employer provides a predetermined periodic payment to…

Q: On January 1, 2020, FB Company had the following data in connection with its defined benefit plan:…

A: Interest = Beginning  Defined benefit obligation x Discount rate = P7,500,000 x 10% = P750,000

Q: How much is the net defined benefit liability/asset that will be shown on December 31, 2021…

A: Net defined benefit liability/(asset)= Defined Benefit Obligation- Plan Assets

Q: The memorandum records ofGalindezTrading at January 1, 2021 show the following data:    Define…

A: Plan Asset at December 31, 2021 = Beginning Fair value of plan assets + Actual return on plan assets…

Q: At the beginning of the current year, the memorandum records of Fischl Company’s defined benefit…

A: The solution for the above question is given in the following steps for your reference.

Q: On January 1, 2021 the memorandum records of Dakak Company’s defined benefit plan showed the…

A: Employee Benefits: It is the all type of compensation (cash/non-cash) paid  to an employee by an…

Q: The following information relates to Black Corporation's defined benefit pension plan during the…

A: Pension plan refers to a plan in which employer make contribution for the employee’s future life…

Q: On December 31, 2020, ABC Company had the following balances in its memorandum records related to…

A: Interest costs = Benefit Obligation, December 31, 2020, x discount rate = P12,000,000 x 12% =…

Q: The following information relates to Hatami Company's defined benefit pension plan during the…

A: Plan assets end of the year = Plan assets beginning of the year + Actual return on plan assets +…

Q: On December 31, 2020, GHI Company had the following balances in its memorandum records related to…

A: Interest costs = Benefit Obligation, December 31, 2020, x discount rate = P12,000,000 x 12% =…

Q: The following date relate to the defined benefit plan of CCC Company for the year ended December 31,…

A: Solution:- Calculation of amount of re measurement gain or loss that should be included in the other…

Q: On January 1, 20X1, Trouble Company had the following information regarding its defined benefit…

A: Interest on plan assets is determined on the value of opening plan assets and that amount is…

Q: On January 1, 2021 COMET Company provided the following data in connection with the defined benefit…

A: Interest costs = Projected benefit obligation x Discount rate = ₱7,600,000 x 10% = ₱760,000 Expected…

Q: Information about the defined benefit plan of the company are shown below: Fair value on plan…

A: Settelment cost (4800000*10%) = Defined benefit obligation, January 1, 2021 x discount rate =…

Q: Information on Balinquit Company’s defined benefit plan is shown below: Fair value of plan asset,…

A: PLAN assets are assets or investments held by a long-term employee benefit fund for the purpose of…

Q: The following are made available for the defined benefit pension plan of ABC Company as of Dec 31,…

A: Fair value of Plan assets as of Dec 31, 20x3 = Fair value of Plan assets as of Jan 1, 20x3 + Actual…

Q: Rachel Company revealed the following information for the current year: Fair value of plan…

A: Plan assets include the amount which a company or an organization investing in a fund account for…

Q: You gathered the following information related to Ashley Company's the defined benefit plan for the…

A: step 1: calculation of beginning funded status   =beginning plan assets – beginning PBO…

Q: The memorandum records of ABC Company at January 1,2020 show the following: Defined Benefit…

A: Defined Benefit Plan:- This is the plan provided to employees by companies  for their benefit  at…

Q: You gathered the following information related to Ashley Company’s the defined benefit plan for the…

A: Defined benefit cost for the year = (Ending Present value of obligation + Benefits paid  - Beginning…

Q: The following information relates to the defined benefit pension plan for the McDonald  Company for…

A: Return on plan assets = Fair value of plan assets, December 31 + Benefits paid to retirees -…

Q: The following date relate to the defined benefit plan of Bronson Company for the year ended December…

A: According to the accounting standard present obligation plan shows the company's liability which is…

Q: On January 1, 2021, Dynamax Company had the following balances in its memorandum records: Fair value…

A: SOLUTION-   COMPREHENSIVE INCOME   INCLUDES REGULAR INCOME AND OTHER COMPREHENSIVE INCOME , WHICH…

Q: Fair value of plan assets 37,000,000 Defined benefit plan 33,000,000 Asset ceiling 2,500,000 What…

A: Prepaid/accrued benefit cost is the cost which to claim a recurring benefit to be allowed before the…

Q: Information on an entity's defined benefit plan are shown below Return on plan asset 240,000 Fair…

A: Given The fair value of plan asset 01 Jan 2020        20,00,000

Q: A. At the beginning of current year, an entity provided the following information in connection with…

A: Net means after offsetting interest income and interest cost.

Q: How much is the Defined Benefit Liability/Asset at December 31, 2021?

A: The computation of employee benefit expenses will be as per the standard laid down in IAS-19

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.