Reference no: EM132966902
Question - On 1 April 2019, Good Employer Limited (GE) had the following balances relating to its defined benefit plan:
Projected benefit obligation $7,200,000
Fair value of plan assets 7,000,000
Other data related to the benefit plan for the year ended 31 March 2020 are shown below:
Service cost $300,000
Contributions to the plan $380,000
Benefits paid $400,000
Discount rate 8%
Expected return on plan assets 8%
Actual return on plan assets 6%
Required - In accordance with HKAS 19 Employee Benefits,
1. Determine the defined benefit obligation of GE as at 31 March 2020.
2. Determine the fair value of plan assets of GE as at 31 March 2020.
3. Prepare GE's journal entries to record the employee benefit and the contributions for the year ended 31 March 2020.
4. Provide the disclosure note relating to the benefit plan as at 31 March 2020.
|
Provide a list of all invoice and invoice details
: Provide a list of all invoice and invoice details. Provide the invoice number, invoice date, the invoice line item number, the product code and description
|
|
Aspect of identity impact daily life
: For this activity, upload an image that represents a part of your identity, either an achieved or an ascribed status. Briefly describe how the image represents
|
|
What cost of ending inventory at end of july for reli corp
: Reli Corp. sells designer T-shirts, If Reli Corp. uses specific identification cost method, what is the cost of ending inventory at the end of July?
|
|
Calculate and explain occupancy
: Part of your role as the revenue manager for a hotel company that owns and operates five full-service hotels operating under the Southern Sun Hotel brand is for
|
|
Determine the fair value of plan assets of GE
: Other data related to the benefit plan for the year ended 31 March 2020 are shown below: Service cost $300,000. Determine the fair value of plan assets of GE
|
|
Factors influencing allocation of resources
: What are some of the factors influencing allocation of resources?
|
|
Process of writing will
: You are in the process of writing your will and you have to decide who you are going to ask to be your executor.
|
|
Solve depreciation expense using straight-line method
: Suppose Company A purchased a vehicle for $40,000 on January 1, 2020. Calculate depreciation expense using the straight-line method.
|
|
What is the amount of cash received
: The following financial data was obtained from Tile Corp's most recent fiscal year-end. What is the amount of cash received
|