Rachel Company revealed the following information for the current year: Fair value of plan assets-January 1 Projected benefit obligation-January 1 Current service cost Past service cost Actual return on plan assets Contribution to the plan Benefits paid to retirees Discount rate 6,700,000 7,600,000 1,450,000 300,000 500,000 1,500,000 800,000 | 10% 1. What is the employee benefit expense? a. 1,840,000 b. 1,540,000 c. 2,510,000 d. 1,750,000 2. What is the remeasurement gain or loss on plan assets? a. 170,000 gain b. 170,000 loss c. 670,000 gain d. 670,000 loss
Rachel Company revealed the following information for the current year: Fair value of plan assets-January 1 Projected benefit obligation-January 1 Current service cost Past service cost Actual return on plan assets Contribution to the plan Benefits paid to retirees Discount rate 6,700,000 7,600,000 1,450,000 300,000 500,000 1,500,000 800,000 | 10% 1. What is the employee benefit expense? a. 1,840,000 b. 1,540,000 c. 2,510,000 d. 1,750,000 2. What is the remeasurement gain or loss on plan assets? a. 170,000 gain b. 170,000 loss c. 670,000 gain d. 670,000 loss
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 4E
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