retirement benefit cost taken to profit or loss and to other comprehensive income, respectively?
The following data pertains to Integrity Company that adopts a defined benefit plan for its employees: Defined benefit obligation, January 1, 2021 - P6,250,000 Plan assets at fair value, January 1, 2021 - P5,800,000 Based on the reference to market yields at the end of the year, the discount rate is determined at 10%. During the year 2021, current years’ service cost totaled P940,000 while contributions made to the fund amounted to P1,245,000 and benefits paid to retired employees totaled P1,450,000. Because the company is not making impressive income in the past years, benefits were reduced as a result of an amendment in the plan. The past service cost, which is a negative figure, amounted to P220,000. After remeasurement at the end of the year, an actuarial gain on the defined benefit obligation was computed at P102,000. Actual return on plan assets amounted to P600,000.
How much is the retirement benefit cost taken to profit or loss and to other comprehensive income, respectively?
P765,000 and P82,000 net actuarial gain P765,000 and P82,000 net actuarial loss P765,000 an P122,000 net actuarial gain P765,000 and P122,000 net actuarial loss
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