A. At the beginning of current year, an entity provided the following information in connection with a defined benefit plan: Fair value of plan assets Projected benefit obligation Prepaid /accrued...

REQUIRED:


2. Compute the net remeasurement gain for the current year

Extracted text: A. At the beginning of current year, an entity provided the following information in connection with a defined benefit plan: Fair value of plan assets Projected benefit obligation Prepaid /accrued benefit cost 10,000,000 (13,000,000) (3,000,000) The entity revealed the following transactions affecting the plan for the current year: Current service cost 2,500,000 Past service cost - remaining vesting period of covered employees is 5 years Contribution to the plan Benefits paid to retirees Actual return on plan assets Decrease in projected benefit obligation due to change in actuarial assumptions Discount rate 1,200,000 3,500,000 3,000,000 1,500,000 400,000 10% Expected return on plan assets 12% REQUIRED: