The following information relates to the pension plan of Jin Company at December 31, 2018. Defined benefit obligation, January 1----------------------------- P8,000,000 Plan assets (at Jin value), January 1------------------------------- 9,500,000 current service costs------------------------------------------- 3,600,000 Actual return on plan assets --------------------------------- 1,200,000 Actuarial loss on defined benefit obligation ------------------------120,000 Contribution for 2018 ------------------------------------------ 3,300,000 Benefits paid to employees during the year 2018 --------- 2,700,000 Discount rate ---------------------------------------------------------10% How much is the defined benefit obligation at December 31, 2018? a. P8,000,000 b. P9,820,000 c. P12,400,000 d. P12,520,000
The following information relates to the pension plan of Jin Company at December 31, 2018. Defined benefit obligation, January 1----------------------------- P8,000,000 Plan assets (at Jin value), January 1------------------------------- 9,500,000 current service costs------------------------------------------- 3,600,000 Actual return on plan assets --------------------------------- 1,200,000 Actuarial loss on defined benefit obligation ------------------------120,000 Contribution for 2018 ------------------------------------------ 3,300,000 Benefits paid to employees during the year 2018 --------- 2,700,000 Discount rate ---------------------------------------------------------10%
How much is the defined benefit obligation at December 31, 2018?
a. P8,000,000
b. P9,820,000
c. P12,400,000
d. P12,520,000
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