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The following information relate to the defined benefit pension plan of Edward Corp. in relation to your audit of the company's postretirement benefit related accounts; Defined benefit obligation, January 1 3,000,000 Fair value of plan asset, January 1 2,800,000 Contribution to the plan during the year 210,000 Current service cost P 160,000 Benefits paid during the year 300,000 Defined benefit obligation, December 31 3,482,000 Fair value of plan asset, December 31 2,984,000 Discount rate 6% What amount of defined benefit cost should be reported in the profit or loss?

The following information relate to the defined benefit pension plan of Edward Corp. in relation to your audit of the company's postretirement benefit related accounts; Defined benefit obligation, January 1 3,000,000 Fair value of plan asset, January 1 2,800,000 Contribution to the plan during the year 210,000 Current service cost P 160,000 Benefits paid during the year 300,000 Defined benefit obligation, December 31 3,482,000 Fair value of plan asset, December 31 2,984,000 Discount rate 6% What amount of defined benefit cost should be reported in the profit or loss?

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 6RE
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The following information relate to the defined benefit pension plan of Edward Corp. in relation to your audit of the company's postretirement benefit related accounts: Defined benefit obligation, January 1 3,000,000 Fair value of plan asset, January 1 2,800,000 Contribution to the plan during the year 210,000 Current service cost 160,000 Benefits paid during the year 300,000 Defined benefit obligation, December 31 3,482,000 Fair value of plan asset, December 31 2,984,000 Discount rate 6% What amount of defined benefit cost should be reported in the profit or loss?
Transcribed Image Text:The following information relate to the defined benefit pension plan of Edward Corp. in relation to your audit of the company's postretirement benefit related accounts: Defined benefit obligation, January 1 3,000,000 Fair value of plan asset, January 1 2,800,000 Contribution to the plan during the year 210,000 Current service cost 160,000 Benefits paid during the year 300,000 Defined benefit obligation, December 31 3,482,000 Fair value of plan asset, December 31 2,984,000 Discount rate 6% What amount of defined benefit cost should be reported in the profit or loss?
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