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What is the employee benefit expense

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Question - On January 1, 2021, ITZY Company provided the following information pertaining to a defined benefit plan prior to the adoption of PAS 19R:

Fair value of plan assets 8,000,000

Projected benefit obligation 7,000,000

Unrecognized actuarial gain 1,500,000

Other relevant information for the current year:

Current service cost 1,800,000

Discount rate 10%

Contribution to the plan 400,000

Actual return on plan assets 1,000,000

Average service period of employees 5 years

Required -

1. What is the employee benefit expense?

2. What is the re-measurement gain or loss?

Reference no: EM133077368

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