Bahamas Hotol Union Ponsion Fund has the following boginning of the yoarpresent values for its projected benefit obligation and market-related values for itspension plan assets.ProjectedBenefitPlanAssetsValueObligation20162017$2,000,0002,400,0002,950,000$1,900,0002,500,0002,600,000201820193,600,0003,000,000The average remaining service life per employee in 2016 and 2017 is 10 yearsand in 2018 and 2019 is 12 yoars. The nct gain or loss that occurrod during cachyear is as tollows: 2016, $280,000 loss; 2017, $90,000 loss; 2018, $11,000 loss;and 2019, $25,000 gain. (In working the solution, the gains and losses must beaggrogatcd to arrivo at ycar cnd balanccs.)Using the corridor approach, compute the amount of net gain or loss amortizedand charged to pension expense in each of the four years, setting up anappropriato schodulo.

Corridor Approach - It is technique in which, the amount of gains or losses to be recognized on the…

Bahamas Hotol Union Ponsion Fund has tho following boginning of tho yoar present values for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation $2,000,000 2,400,000 2,950,000 3,600,000 Plan Assets Value 2016 2017 $1,900,000 2,500,000 2,600,000 3,000,000 2018 2019 The average remaining service liſe per employee in 2016 and 2017 is 10 years and in 2018 and 2019 is 12 yoars. Tho not gain or loss that occurrod during oach year is as tollows: 2016, $280,000 loss; 2017, $90,000 loss; 2018, $11,000 loss; and 2019, $25,000 gain. (In working the solution, the gains and losses must be aggrogatod to arrivo at yoar ond balancos.) Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriato schodulo.

Bahamas Hotol Union Ponsion Fund has tho following boginning of tho yoar present values for its projected benefit obligation and market-related values for its pension plan assets. Projected Benefit Obligation $2,000,000 2,400,000 2,950,000 3,600,000 Plan Assets Value 2016 2017 $1,900,000 2,500,000 2,600,000 3,000,000 2018 2019 The average remaining service liſe per employee in 2016 and 2017 is 10 years and in 2018 and 2019 is 12 yoars. Tho not gain or loss that occurrod during oach year is as tollows: 2016, $280,000 loss; 2017, $90,000 loss; 2018, $11,000 loss; and 2019, $25,000 gain. (In working the solution, the gains and losses must be aggrogatod to arrivo at yoar ond balancos.) Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriato schodulo.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following information relates to transactions of the Consolidated Fund for the year ended 31st December, 2019. GHc’000 Tax revenues 200,000 Non tax revenues 98,500 Grants 67,000 Purchase of goods 41,000 Purchase of Furniture and Fittings 34,000 Construction of Roads 85,000 Domestic borrowing 40,000 External bilateral borrowing 70,000 Eurobonds issued 92,000 Repayment of domestic borrowing 22,000 Purchase of motor vehicle 21,000 Repayment of Eurobond 33,400 Interest paid 25,000 Sale proceeds from disposal of Equity Investment 43,500 Consultancy services paid 15,500 Consumption of fixed capital 50,000 Bank and cash balance ( 1/1/19) (80,000) Bank balance and cash (31/12/19) 254,100 Required: Prepare Cash Flow Statement for the Consolidated Fund for the year ended 31st December 2019 in accordance with the IPSAS 2: Cash Flow Statement.
1. For the year 2020, the permanent fund requirement of DICE Co. has been estimated as P 70,000. The total fund requirements are given as follows: Current Assets. Fixed AssetsFirst Quarter. 20,000 60,000Second quarter. 27,500. 60,000Third quarter 30,000. 60,000Fourth quarter 19,000. 60,000 a). Compute for the seasonal fund requirements
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