Determine the net plan obligation or asset

Assignment Help Accounting Basics
Reference no: EM133087427

Question - The following information is provided in relation to a defined benefit plan operated by Lasco. At 1 January 20X4, the present value of the obligation was $140 million and the fair value of the plan assets amounted to $80 million.

 

20X4

20X5

Discount rate at start of year

4%

3%

Current and past service cost ($m)

30

32

Benefits paid ($m)

20

22

Contribution into plan ($m)

25

30

Present value of obligation at 31 December ($m)

200

230

Fair value of plan assets at 31 December ($m)

120

140

Required -

1. Determine the net plan obligation or asset at 31 December 20X4 and 20X5.

2. A reconciliation showing the re-measurement (i.e. actuarial gain/loss) component for 20X4 and 20X5.

3. The amounts to be taken to profit or loss and other comprehensive income for both financial years.

Reference no: EM133087427

Questions Cloud

Several different web analytics platforms in module : We reviewed several different web analytics platforms in this module. Analyze each tool, providing list of pros and cons as well as a comparison of platforms
Determine the amount of yards the company expected : Records show that the total direct material variances was? $40,000 favorable. Determine the amount of yards the company expected to use per jersey
Effectiveness of the steps to change culture : Describe (briefly) the impact on employees and other statistics such as increased retention rates. Analyze the effectiveness of the steps to change the culture.
International banking-finance : International Banking & Finance: It is also a time to take a step back and reflect on all that you have learned during this quarter. In this discussion forum yo
Determine the net plan obligation or asset : Question - The following information is provided in relation to a defined benefit plan operated by Lasco. Determine the net plan obligation or asset
Setting and enforcing market regulations : In Canada, setting and enforcing market regulations are provincial responsibilities. However, in most other western countries, such as USA, Japan, regulating ca
Explain a real life example of product or service : Explain a real life example of product or service that uses 4 action framework tool of blue ocean strategy. Explain how product features match every action of f
Engage in colonialist thinking and behavior : In what way can modern corporations be considered to engage in colonialist thinking and behavior?
Rise of widespread commodification : 1. How might the rise of widespread commodification and transactional thinking obstruct sustainable development efforts?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the actual roi for the year

Calculate the sales price per unit that Gener8 will have to charge to meet the investor's requirements. Calculate the actual ROI for the year.

  Compared client actual amounts to expectations and evaluated

Compared client actual amounts to expectations and evaluated results

  Career development plan

Some of the following elements should be included in a career development plan:

  Discuss what are budgeted cash payments for april

Dane Inc has forecast purchases on account to be $465,000 in March, 555,000 in April, $630,000 in May, and $735,000 in June. Seventy percent of purchases

  Prepare purchase journal and sales journal of Ronaldo

Question - The following are transactions of Ronaldo Traders during the month of September 2004: Prepare purchase journal and sales journal of Ronaldo Traders

  What is the initial working capital investment required

A company is considering purchasing a new machine, at a cost of $50,000. What is the initial working capital investment required

  Blowing rock railroad decided to use the high-low method

blowing rock railroad decided to use the high-low method and operating data from the past six months to estimate the

  Calculate the amount of contribution margin

Calculate the amount of contribution margin XYZ Company would expect to earn in June. Do not use decimals in your answer

  Advantages and disadvantages of organizational form

Prepare a written memo to Baku and Hanson describing the advantages and disadvantages of each organizational form. Also, from the limited information provided, recommend the organizational form you think they should use.

  Determine whether rachels basket weaving shop should carry

e7-9 rachel ray recently opened her own basket weaving studio. she sells finished baskets in addition to the raw

  Explain corporate bond interest in terms of cost of capital

Explain corporate bond interest in terms of cost of capital versus investor yields. Also, explain the municipal bond interest in terms of investor yields

  What is ann percentage of stock ownership

What is Ann's percentage of stock ownership under the attribution rules for stock redemption

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd