Reference no: EM133035252
Question - 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%
Required - 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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