9/. At the beginning of the current year, the memorandum records of Anne Company’s defined benefit plan showed the following: Fair value of plan assets P 7,500,000 Defined benefit obligation (11,000,000) Prepaid(accrued) defined benefit exp. (P3,500,000) The entity determined that its current service cost was P1,000,000 and the interest cost is 10%. The expected return on plan assets was 12% but the actual return during the year was 8%. Other related information at the end of the year: Contribution to the plan P1,200,000 Benefits paid to retirees 1,500,000 Decrease in defined benefit obligation due to changes in actuarial assumptions 200,000 Calculate the amount that the entity would recognize in profit or loss for the year in accordance with the revised PAS 19 Group of answer choices P1,350,000 P1,200,000 P1,100,000 P1,000,000 The defined benefit obligation at the end of the current year is Group of answer choices P10,500,000 P11,600,000 P11,800,000 P11,400,000
9/. At the beginning of the current year, the memorandum records of Anne Company’s defined benefit plan showed the following:
Fair value of plan assets |
P 7,500,000 |
Defined benefit obligation |
(11,000,000) |
Prepaid(accrued) defined benefit exp. |
(P3,500,000) |
The entity determined that its current service cost was P1,000,000 and the interest cost is 10%. The expected return on plan assets was 12% but the actual return during the year was 8%. Other related information at the end of the year:
Contribution to the plan |
P1,200,000 |
Benefits paid to retirees |
1,500,000 |
Decrease in defined benefit obligation due to changes in actuarial assumptions |
200,000 |
- Calculate the amount that the entity would recognize in profit or loss for the year in accordance with the revised PAS 19
Group of answer choices
P1,350,000
P1,200,000
P1,100,000
P1,000,000
- The defined benefit obligation at the end of the current year is
Group of answer choices
P10,500,000
P11,600,000
P11,800,000
P11,400,000
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