Johnson Corp.sponsors a defined benefit plan for its employee group.
The following data pertains to the plan's first 2 years in existence: Additional information:
- The plan was started on January 1^st,Year 1,with $30,000 of funding.
- The company has a December 31^st,year-end.
- The plan is non-contributory.
- The company's long-term debt is subject to a 6% discount rate.
What would be the pension expense for each of Years 1 and 2 under ASPE?
To go from pension expense under IFRS to ASPE,we need simply take the OCI amounts from IFRS and add them to the IFRS pension expense amounts to get the pension expense under ASPE:

Question

Johnson Corp.sponsors a defined benefit plan for its employee group.
The following data pertains to the plan's first 2 years in existence:

Additional information:
- The plan was started on January 1^st,Year 1,with $30,000 of funding.
- The company has a December 31^st,year-end.
- The plan is non-contributory.
- The company's long-term debt is subject to a 6% discount rate.
What would be the pension expense for each of Years 1 and 2 under ASPE?
To go from pension expense under IFRS to ASPE,we need simply take the OCI amounts from IFRS and add them to the IFRS pension expense amounts to get the pension expense under ASPE:

Quizplus · Accepted Answer

The Answer of Johnson Corp.sponsors a defined benefit plan for its employee group. The following data pertains to the plan's first 2 years in existence: Additional information: - The plan was started on January 1^st,Year 1,with $30,000 of funding. - The company has a December 31^st,year-end. - The plan is non-contributory. - The company's long-term debt is subject to a 6% discount rate. What would be the pension expense for each of Years 1 and 2 under ASPE? To go from pension expense under IFRS to ASPE,we need simply take the OCI amounts from IFRS and add them to the IFRS pension expense amounts to get the pension expense under ASPE: