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What is the re-measurement loss for the current year

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Reference no: EM133096815

Question - At the beginning of the current year, Tarvis Inc. had a projected benefit obligation of 10,000,000 and a fair value on pension fund of 9,200,000. The following information are provided:

Current service cost 1,200,000

Actual return on FVPA 250,000

Benefits paid 1,100,000

Contribution to the fund 1,050,000

Discount rate 9%

Expected return on FVPA 10%

Required - Answer the following questions and show your solution

1. What is the employee benefit expense for the current year?

2. What is the re-measurement loss for the current year?

3. What is the re-measurement gain for the current year?

4. What is the prepaid benefit cost?

5. What is the accrued benefit cost for the current year?

Reference no: EM133096815

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