The memorandum records of Galindez Trading at January 1, 2021 show the following data: Define Benefit Obligation 2,600,000 Fair value of plan asset 3,000,000 The following information for 2021 is also provided: Service cost 800,000 Actual return on plan assets 300,000 Benefits paid 350,000 Contributions to the plan 780,000 Actuarial loss on remeasurement of defined benefit obligation 100,000 Discount rate 9% What are the balances of Benefit Obligation and Plan Asset at December 31, 2021? Group of answer choices 3,184,000 3,730,000 3,384,000 3,730,000 3,384,000 3,700,000 3,184,000 3,700,000
The memorandum records of Galindez Trading at January 1, 2021 show the following data: Define Benefit Obligation 2,600,000 Fair value of plan asset 3,000,000 The following information for 2021 is also provided: Service cost 800,000 Actual return on plan assets 300,000 Benefits paid 350,000 Contributions to the plan 780,000 Actuarial loss on remeasurement of defined benefit obligation 100,000 Discount rate 9% What are the balances of Benefit Obligation and Plan Asset at December 31, 2021? Group of answer choices 3,184,000 3,730,000 3,384,000 3,730,000 3,384,000 3,700,000 3,184,000 3,700,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
15
The memorandum records of Galindez Trading at January 1, 2021 show the following data:
|
Define Benefit Obligation |
2,600,000 |
|
Fair value of plan asset |
3,000,000 |
The following information for 2021 is also provided:
|
Service cost |
800,000 |
|
Actual return on plan assets |
300,000 |
|
Benefits paid |
350,000 |
|
Contributions to the plan |
780,000 |
|
Actuarial loss on remeasurement of defined benefit obligation |
100,000 |
|
Discount rate |
9% |
What are the balances of Benefit Obligation and Plan Asset at December 31, 2021?
Group of answer choices
3,184,000 3,730,000
3,384,000 3,730,000
3,384,000 3,700,000
3,184,000 3,700,000
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