FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Peach Corporation uses IFRS.
Presented below is information relate
to Peach Corporation's defined benet
pension plan for calendar 2023:
Defined benefit obligation, January 1
200,000
Fair value of plan assets, January 1
180,000
Current service cost 27,000
Contributions to plan 25,000
Actual and expected return on plan
assets 9,000
Benefits paid to retirees 40,000
Interest (discount) rate 10%
The balance of the defined benefit
obligation at December 31, 2023 is
a) $185,000.
b) $187,000.
c) $207,000.
d) $245,000.
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