The value of pension cost by thecompany under IFRS and journal entries to record it. Given information: Pension cost of the current year is $500,000. Return on plan assets in excess of expected return in the current year is $231,000. Past service cost which is not included in pension cost is $79,000. Contribution towards the plan is $100,000.

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Chapter 19, Problem 19.21BE

To determine

The value of pension cost by thecompany under IFRS and journal entries to record it.

Given information:

Pension cost of the current year is $500,000.

Return on plan assets in excess of expected return in the current year is $231,000.

Past service cost which is not included in pension cost is $79,000.

Contribution towards the plan is $100,000.

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