Reference no: EM132971328
Question - Use the following information for the next four (4) questions: The memorandum records of Galinde Trading at January 1, 2021 show the following data:
Define Benefit Obligation 2,600,000
Fair value of plan asset 3,000,000
Service cost 800,000
Actual return on plan assets 300,000
Benefits paid 350,000
Contributions to the plan 780,000
Actuarial loss on re-measurement of defined benefit obligation 100,000
Discount rate 9%
1. How much is the net prepaid/accrued defined benefit cost that was shown on December 31, 2020 balance sheet? use negative sign (-) if accrued
2. How much is the retirement benefit expense taken to profit or loss for the year 2021?
3. How much is the retirement benefit cost that is taken to other comprehensive income for the year 2021?
4. What is the balance of Benefit Obligation at December 31, 2021?
|
Determine the year-end adjusting entries
: Determine the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account
|
|
Prepare the january entries for snuggly bunny ltd
: Prepare the January 2019 entries. On January 1,2019, Snuggly Bunny Ltd issued $6,000,000 of 4%, fifteen year bonds priced to yield 5%.
|
|
How much is the additional loss
: On that date, Ripped Company's managers estimated that the non-current asset was now expected to be selling at P1,800,000. How much is the additional loss
|
|
Analyze four significant risks facing the company
: What are the critical drivers of your companies' industry profitability? How do changes in these critical drivers affect each of the two companies?
|
|
How much is the net prepaid and accrued defined benefit cost
: How much is the net prepaid/accrued defined benefit cost that was shown on December 31, 2020 balance sheet? use negative sign (-) if accrued
|
|
How many jod does pablo need now
: The spot rate in 360 days will be $1.61. If Pablo decides to implement a money market hedge, how many JOD does Pablo need now
|
|
Determine the rate of interest implicit in the lease
: Determine the rate of interest implicit in the lease and calculate the present value of lease payments. Burt Ltd enters into a non-cancellable five-year lease.
|
|
Prepare any journal entry necessary as a direct result
: Prepare any journal entry necessary as a direct result of the change, as well as any adjusting entry for 2021 related to the situation described
|
|
Find how much cash was provided by operating activities
: During the year, accounts receivable and inventory increased $72000 and $192000, respectively. How much cash was provided by operating activities in 2022?
|