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1. The following information relates to the defined benefit pension plan for the BBB Company for the year ending December 31, 20x8: Present value of
1. The following information relates to the defined benefit pension plan for the BBB Company for the year ending December 31, 20x8: Present value of benefit obligation, January 1 P6,900,000 Present value of benefit obligation, December 31 7,793,500 Fair value of plan assets, January 1 7,552,500 Fair value of plan assets, December 31 8,347,500 Employer contribution 637,500 Benefits paid to retirees 585,000 Settlement rate 10% Ceiling January 1 300,000 How much would be the net pension cost takes to profit and loss for the year 20x8?
1. The following information relates to the defined benefit pension plan for the BBB Company for the year ending
December 31, 20x8:
Present value of benefit obligation, January 1 P6,900,000
Present value of benefit obligation, December 31 7,793,500
Fair value of plan assets, January 1 7,552,500
Fair value of plan assets, December 31 8,347,500
Employer contribution 637,500
Benefits paid to retirees 585,000
Settlement rate 10%
Ceiling January 1 300,000
How much would be the net pension cost takes to profit and loss for the year 20x8?
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
