PUP CAF Company has the following information related to its defined benefit plan for year 2021: > Net defined benefit asset (Pension asset), January 1- P5,000,000 > Current Service Cost- P2,700,000 > Past Service Cost- P400,000 > Interest Expense- P1,000,000 > Contribution to the plan- P1,500,000 > Benefits paid to retirees- P2,200,000 > Actual return on plan assets- P1,350,000 > Actuarial loss on plan assets- P150,000 > Actuarial gain on projected benefit obligation- P400,000 How much is the benefit expense reported in its profit or loss in 2021?Cash in bank (net of bank overdraft of P1,000,000)- P10,000,000 · Petty cash (unreplenished petty cash expenses, P20,000)- P100,000 · Equity investment at FVPL- P6,000,000 · Notes receivable- P8,000,000 · Accounts receivable (net of accounts with credit balances of P3,000,000)- P12,000,000 · Inventory- P6,000,000 · Accounts payable (net of accounts with debit balance of P2,000,000)- P14,000,000 · Notes payable- P8,000,000 · Bonds payable due June 30, 2022- P6,000,000 · Accrued expenses- P4,000,000 What total amount should be reported as current assets on December 31, 2021?
PUP CAF Company has the following information related to its defined benefit plan for year 2021:
> Net defined benefit asset (Pension asset), January 1- P5,000,000
> Current Service Cost- P2,700,000
> Past Service Cost- P400,000
> Interest Expense- P1,000,000
> Contribution to the plan- P1,500,000
> Benefits paid to retirees- P2,200,000
> Actual return on plan assets- P1,350,000
> Actuarial loss on plan assets- P150,000
> Actuarial gain on projected benefit obligation- P400,000
How much is the benefit expense reported in its profit or loss in 2021?Cash in bank (net of bank overdraft of P1,000,000)- P10,000,000
· Petty cash (unreplenished petty cash expenses, P20,000)- P100,000
· Equity investment at FVPL- P6,000,000
· Notes receivable- P8,000,000
·
· Inventory- P6,000,000
· Accounts payable (net of accounts with debit balance of P2,000,000)- P14,000,000
· Notes payable- P8,000,000
· Bonds payable due June 30, 2022- P6,000,000
· Accrued expenses- P4,000,000
What total amount should be reported as current assets on December 31, 2021?
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