nformation on Entity A's defined benefit plan is as follows: 1,800,000 1,440,000 2,160,000 PV of DBO - Jan. 1, 20x1 FVPA - Jan.1, 20x1 PV of DBO - Dec. 31, 20x1 FVPA, end. - Dec. 31, 20x1 1,572,000 Current service cost Actuarial loss 390,000 120,000 132,000 Return on plan assets Discount rate 5%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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How much is the net defined benefit liability (asset) in Entity A’s December 31, 20x0 statement of financial position?

Information on Entity A's defined benefit plan is as follows:
PV of DBO - Jan. 1, 20x1
1,800,000
1,440,000
FVPA - Jan.1, 20x1
PV of DBO -
Dec. 31, 20х1
Dec. 31, 20х1
2,160,000
1,572,000
390,000
120,000
132,000
FVPA, end.
Current service cost
Actuarial loss
Return on plan assets
Discount rate
5%
Transcribed Image Text:Information on Entity A's defined benefit plan is as follows: PV of DBO - Jan. 1, 20x1 1,800,000 1,440,000 FVPA - Jan.1, 20x1 PV of DBO - Dec. 31, 20х1 Dec. 31, 20х1 2,160,000 1,572,000 390,000 120,000 132,000 FVPA, end. Current service cost Actuarial loss Return on plan assets Discount rate 5%
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