Questions from Intermediate Accounting

Q: Maya Corp. reports the following information (in hundreds of thousands

Maya Corp. reports the following information (in hundreds of thousands of dollars) to you about its defined benefit pension plan for 2017: Provide a continuity schedule for the DBO for the year. May...

Q: For Castor Corporation, year-end plan assets were $1

For Castor Corporation, year-end plan assets were $1,753,000. At the beginning of the year, plan assets were $1,359,000. During the year, contributions to the pension fund were $170,000, while benefit...

Q: Refer to the information for Maya Corp. in BE19-4

Refer to the information for Maya Corp. in BE19-4, and provide a continuity schedule for the plan assets for the year. Is the plan in a surplus or a deficit position at the end of the year? Data from...

Q: At December 31, 2017, Glover Corporation provided you with the

At December 31, 2017, Glover Corporation provided you with the following information: Defined benefit obligation, December 31, 2017……………………………………$3,400,000 Plan assets at fair value, December 31, 201...

Q: Jonquière Corporation provides the following information about its defined benefit pension plan

Jonquière Corporation provides the following information about its defined benefit pension plan (in hundreds of thousands of dollars) for 2017: At the end of the year, Jonquiè...

Q: Access the annual report, including the audited financial statements, of

Access the annual report, including the audited financial statements, of Thomson Reuters Corporation for the year ended December 31, 2014 from SEDAR (www.sedar.com) or from the company’s website (www....

Q: Duster Corporation is a private company with a defined benefit pension plan

Duster Corporation is a private company with a defined benefit pension plan. The following information is available for Duster Corporation for 2017: Opening balance, DBO……………………………………………………………….$210,...

Q: Access the annual financial statements, including the accompanying notes, of

Access the annual financial statements, including the accompanying notes, of Loblaw Companies Limited for its 52 weeks ended January 2, 2016. These can be found on SEDAR (www.sedar.com) or the company...

Q: Lagace Ltd. entered into a lease on June 1, 2017

Lagace Ltd. entered into a lease on June 1, 2017. The lease term is six years and requires annual rental payments of $30,000 at the beginning of each year. Lagace’s incremental borrowing rate is 8% an...

Q: Langlois Services Inc. accounts for right-of-use assets

Langlois Services Inc. accounts for right-of-use assets under IFRS 16 for a lease of a truck. The lease includes a residual value guarantee at the end of the term of the lease of $16,000. Langlois est...