On January 1, 2019, Cubs Corporation adopted a defined benefit pension plan. The plan’s service cost of P150,000 was fully funded at the end of 2019. Past service cost was funded by a contribution of P60,000 in 2019. Past service cost was P24,000 for 2019. What is he amount of Cub’s prepaid pension cost at December 31, 2019?

On January 1, 2019, Cubs Corporation adopted a defined benefit pension plan. The plan’s service cost of P150,000 was fully funded at the end of 2019. Past service cost was funded by a contribution of P60,000 in 2019. Past service cost was P24,000 for 2019. What is he amount of Cub’s prepaid pension cost at December 31, 2019?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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