question archive Papi Co provided the following for their defined benefit plan: Benefit obligation, Jan
Papi Co provided the following for their defined benefit plan: Benefit obligation, Jan
Subject:AccountingPrice: Bought3
Papi Co provided the following for their defined benefit plan: Benefit obligation, Jan. 1, 2022 - P9,000,000 Fair value of plan assets, Jan. 1, 2022 - P10,000,000 Current service cost - P1,700,000 Past service cost - P500,000 Benefits paid - P2,200,000 Contribution to the plan - P2,000,000 Actual return on plan assets - P1,500,000 Actuarial loss due to remeasurement of benefit obligation - P400,000 Discount rate - 12% REQUIRED: 1. 2022 Employee benefit expense? 2. Dec. 31, 2022 benefit obligation? 3. Defined benefit cost for 2022?
