The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS. Given information: Fair value of plan assets at the beginning is $569,000. PVDBO at the beginning is $678,000. Service Cost is $54,000. Interest on beginning PVDBO is $56,900. Actuarial gains are $98,543. Actual loss on plan assets is $35,800. Contribution made by corporations is $86,500. Benefit payment made to retirees is $29,780.

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Answer 1

Question

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

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Answer 2

Question

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

Expert Solution & Answer

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Answer 3

Question

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

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Answer 4

Question

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

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Answer 5

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

Answer 6

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

Answer 7

Chapter 19, Problem 19.24BE

To determine

The value of closing balance of the plan assets and indicate the funded status of the plan at the end of the year as per IFRS.

Given information:

Fair value of plan assets at the beginning is $569,000.

PVDBO at the beginning is $678,000.

Service Cost is $54,000.

Interest on beginning PVDBO is $56,900.

Actuarial gains are $98,543.

Actual loss on plan assets is $35,800.

Contribution made by corporations is $86,500.

Benefit payment made to retirees is $29,780.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 19 - What is the allocation period used to expense...Ch. 19 - How do companies account for stock-based...Ch. 19 - Do companies with equity-based compensation plans...Ch. 19 - When accounting for employee stock options, will a...Ch. 19 - Prob. 19.5Q Ch. 19 - Prob. 19.6Q Ch. 19 - Prob. 19.7Q Ch. 19 - Prob. 19.8Q Ch. 19 - Prob. 19.9Q Ch. 19 - Prob. 19.10Q

Solution Summary: The author calculates the closing balance of plan assets and the funded status of the plan as per IFRS.

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Chapter 19 Solutions