At January 1, 2016, R Company had plan assets of P250,000 and a defined benefit obligation of the same amount. During 2016, service cost was P27,500, the discount rate was 12%, actual and expected return on plan assets were P25,000, contributions were P20,000, and benefits paid were P17,500. Based on this information what would be the defined benefit obligation for R Company for 2016?

At January 1, 2016, R Company had plan assets of P250,000 and a defined benefit obligation of the same amount. During 2016, service cost was P27,500, the discount rate was 12%, actual and expected return on plan assets were P25,000, contributions were P20,000, and benefits paid were P17,500. Based on this information what would be the defined benefit obligation for R Company for 2016?

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 35P

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