On December 31, 2019, Asayas Company reported fair value of plan assets P9,000,000 and projected benefit obligation P9,400,000. On December 31, 2020, the entity reported fair value of plan assets P9,900,000 and projected benefit obligation P11,100,000. During 2020, contribution was P1,260,000 and benefits paid were P1,125,000. The discount rate for 2019 and 2020 were 10% and 9%, respectively. What is the remeasurement gain or loss attributable to plan assets for 2020? O 135,000 gain O 45,000 gain O 45,000 loss O 135,000 loss
On December 31, 2019, Asayas Company reported fair value of plan assets P9,000,000 and projected benefit obligation P9,400,000. On December 31, 2020, the entity reported fair value of plan assets P9,900,000 and projected benefit obligation P11,100,000. During 2020, contribution was P1,260,000 and benefits paid were P1,125,000. The discount rate for 2019 and 2020 were 10% and 9%, respectively. What is the remeasurement gain or loss attributable to plan assets for 2020? O 135,000 gain O 45,000 gain O 45,000 loss O 135,000 loss
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On December 31, 2019, Asayas Company reported fair value of plan assets P9,000,000
and projected benefit obligation P9,400,000. On December 31, 2020, the entity reported
fair value of plan assets P9,900,000 and projected benefit obligation P11,100,000. During
2020, contribution was P1,260,000 and benefits paid were P1,125,000. The discount rate
for 2019 and 2020 were 10% and 9%, respectively. What is the remeasurement gain or
loss attributable to plan assets for 2020?
O 135,000 gain
O 45,000 gain
O 45,000 loss
O 135,000 loss
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