For the current year, Casimira Travel Agency provided the following information relating to the retirement plan: Defined
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Question:
For the current year, Casimira Travel Agency provided the following information relating to the retirement plan:
Defined benefit obligation, January 1 P7,200,000
Current Service Cost 1,800,000
Retirement benefits paid 1,500,000
Assumed discount rate 10%
If no change in actual estimate occurred in the current year, what is the defined benefit obligation on December 31?
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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