New Corporation amends its pension plan on 1/1/20. The following information is available: 1/1/20 before 1/1/20 after amendment amendment Accumulated benefit obligation P 950,000 P1,425,000 Projected benefit obligation 1,300,000 1,900,000 The past service cost as a result of this amendment is O P600,000 O P950,000 O P475,000 O P125,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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New Corporation amends its pension plan on 1/1/20. The following information is available:
1/1/20 before
1/1/20 after
amendment
amendment
Accumulated benefit
obligation
P 950,000
P1,425,000
Projected benefit
obligation
1,300,000
1,900,000
The past service cost as a result of this amendment is
O P600,000
O P950,000
O P475,000
O P125,000
Transcribed Image Text:New Corporation amends its pension plan on 1/1/20. The following information is available: 1/1/20 before 1/1/20 after amendment amendment Accumulated benefit obligation P 950,000 P1,425,000 Projected benefit obligation 1,300,000 1,900,000 The past service cost as a result of this amendment is O P600,000 O P950,000 O P475,000 O P125,000
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