P20.1 (LO 2, 4, 5) (2-Year Worksheet) On January 1, 2022, Harrington SA has the following defined benefit pension plan balances. Defined benefit obligation €4,500,000 Fair value of plan assets 4,200,000 The interest rate applicable to the plan is 10%. On January 1, 2023, the company amends its pension agreement so that past service costs of €500,000 are created. Other data related to the pension plan are as follows. 2022 2023 Service cost €150,000 €180,000 Contributions (funding) to the plan 240.000 285.000

P20.1 (LO 2, 4, 5) (2-Year Worksheet) On January 1, 2022, Harrington SA has the following defined benefit pension plan balances. Defined benefit obligation €4,500,000 Fair value of plan assets 4,200,000 The interest rate applicable to the plan is 10%. On January 1, 2023, the company amends its pension agreement so that past service costs of €500,000 are created. Other data related to the pension plan are as follows. 2022 2023 Service cost €150,000 €180,000 Contributions (funding) to the plan 240.000 285.000

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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