Presented below is pension information for PP Company for the year 2020: Interest on plan assets P24,000 Interest on vested benefits 15,000 Service cost 30,000 Interest on defined benefit obligation 21,000 Past service cost due to increase in benefits 18,000 The amount of pension expense to be reported for 2020 is?
Presented below is pension information for PP Company for the year 2020: Interest on plan assets P24,000 Interest on vested benefits 15,000 Service cost 30,000 Interest on defined benefit obligation 21,000 Past service cost due to increase in benefits 18,000 The amount of pension expense to be reported for 2020 is?
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 6MC
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Presented below is pension information for PP Company for the year 2020:
Interest on plan assets | P24,000 |
Interest on vested benefits | 15,000 |
Service cost | 30,000 |
Interest on defined benefit obligation | 21,000 |
Past service cost due to increase in benefits | 18,000 |
The amount of pension expense to be reported for 2020 is?
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