The following information relates to the Montigo Superannuation Plan,which is a defined benefit scheme.Amounts given for all assets are at net market value. At balance date the scheme is owed from the current period.
During the period shares in listed companies that had a net realisable value of $7 million at the beginning of the period were sold for $8.5 million.Shares were purchased during the period for $3 million.
The fund has not had an actuarial review undertaken as at balance date.What are the net assets available to pay benefits at 30 June 2003?

Question

The following information relates to the Montigo Superannuation Plan,which is a defined benefit scheme.Amounts given for all assets are at net market value.  At balance date the scheme is owed from the current period.
 During the period shares in listed companies that had a net realisable value of $7 million at the beginning of the period were sold for $8.5 million.Shares were purchased during the period for $3 million.
The fund has not had an actuarial review undertaken as at balance date.What are the net assets available to pay benefits at 30 June 2003?

Quizplus · Accepted Answer

The Answer of The following information relates to the Montigo Superannuation Plan,which is a defined benefit scheme.Amounts given for all assets are at net market value.  At balance date the scheme is owed from the current period.
 During the period shares in listed companies that had a net realisable value of $7 million at the beginning of the period were sold for $8.5 million.Shares were purchased during the period for $3 million.
The fund has not had an actuarial review undertaken as at balance date.What are the net assets available to pay benefits at 30 June 2003?

The Following Information Relates to the Montigo Superannuation Plan,which Is