You gathered the following information related to Ashley Company's the defined benefit plan for the current year en December 31: • Fair value of plan assets: P2,100 million at January 1, and P2,300 million at December 31 • Present value of obligation to provide benefits: P2,200 million at January 1, and P2,600 million at December 31 • Contributions paid to the fund: P80 million • Benefits paid to retired employees: P50 million The defined benefit cost for the year is O P200 million

You gathered the following information related to Ashley Company's the defined benefit plan for the current year en December 31: • Fair value of plan assets: P2,100 million at January 1, and P2,300 million at December 31 • Present value of obligation to provide benefits: P2,200 million at January 1, and P2,600 million at December 31 • Contributions paid to the fund: P80 million • Benefits paid to retired employees: P50 million The defined benefit cost for the year is O P200 million

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 1E

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