Solution-What was the balance of program liabilities as of

What was the balance of program liabilities as of December

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Reference no: EM132858313

Question - Roanoke Corp initiated a defined benefit pension plan on January 1, 2017. This plan provides pension benefits for future services and past services. An actuary is required to calculate the defined benefit plan (DBO) liability on January 1, 2017, to be CU 550,000,000. Now is the date December 31, 2019, where you are given the following information for 2019 (Thousands of CU):

Current service fees during 2019	125,000
Interest expense on plan liabilities	34,000
The actual benefit of plan assets	28,500
Current value of DBO as of January 1, 2019	680,000
Contribution paid to the program during 2019	130,000
Payment of pension benefits during 2019	22,000
Losses on Remeasurement of defined benefit plan liability	11,000

Required -

1. What was the balance of program liabilities as of December 31, 2019 calculated by the actuary?

2. In connection with the Covid-19 pandemic, which has only been officially recognized since March 2, 2020, an analysis of what the potential impact is for the financial statements as of March 31, 2020?

Reference no: EM132858313

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What was the balance of program liabilities as of December : Roanoke Corp initiated a defined benefit pension plan on January 1, 2017. What was the balance of program liabilities as of December

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What was the balance of program liabilities as of December

Reference no: EM132858313

Reference no: EM132858313

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