The following information relates to the defined retirement benefit plan of Integrity Company as of December 31, 2021: Net actuarial gain due to remeasurement of benefit obligation and plan assets taken to OCI - P123,000 Prior service cost due to amendment of plan included in retirement benefit expense - P443,000 Fair value of plan assets - P2,557,000 Accrued benefit obligation - P2,800,000 What amount should be shown in the statement of financial position at December 31, 2021 as Prepaid or Accrued Retirement Benefit Cost?  a. P243,000 accrued b. P563,000 accrued c. P323,000 prepaid d. P77,000 prepaid

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A: Pension accounting may be fairly difficult, specifically in the context of defined benefit schemes.…

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A: Step 1: Computation of the minimum amount of accumulated OCI (G/L) amortized as a component of net…

Q: What is the present value of benefit obligation as of Dec 31, 20x8?

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A: 1. Calculate the pension expense for Robey for the year 2019.

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Q: etermine the pension expense to be reported in 2021.

A:

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A: As sub parts A and B are solved in question itself so we are answering only C sub part .

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Q: choose the correct letter of answer

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.