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Compute for the net defined liability as of december

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Reference no: EM132994951

Question - The following information are taken from the actuarial valuation report for an entity's defined benefit plan:

Fair value of plan asset, Jan. 1 1,500,00

Return on plan assets 180,000

Employer contributions 45,000

Present value of defined obligation, Jan. 1,800,000

Current service cost 450,000

Benefits paid during the period 75,000

Actuarial gain 10,000

Discount Rate 12%

Required -

a. Compute for the net defined liability (asset) as of Jan 1.

b. Compute for the net defined liability (asset) as of December 31.

Reference no: EM132994951

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