For the current year, Casimira Travel Agency provided the following information relating to the retirement plan: Defined benefit obligation, January 1 P7,200,000 1,800,000 Current service cost Retirement benefits paid 1,500,000 Assumed discount rate 10% If no change in actuarial estimate occurred in the current year, what is the defined benefit obligation on December 31?

For the current year, Casimira Travel Agency provided the following information relating to the retirement plan: Defined benefit obligation, January 1 P7,200,000 1,800,000 Current service cost Retirement benefits paid 1,500,000 Assumed discount rate 10% If no change in actuarial estimate occurred in the current year, what is the defined benefit obligation on December 31?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 4E

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