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How much is the interest income on plan assets

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On January 1, 20X1, Trouble Company had the following information regarding its defined benefit plan. Fair value of plan assets (FVPA), Jan 1 P480,000 Present value of the defined benefit obligation, Jan. 1 360,000 Discount rate based on high quality corporate bonds 5% Information regarding the defined benefit plan as of December 31, 20X1 is as follows:

Contributions made to the fund, July 1, 20X1 P800,000

Benefits paid to retirees, September 30, 20X1 200,000

Fair value of plan assets (FVPA), Dec 31 1,128,000

Present value of the defined benefit obligation, Dec 31 720,000

Problem 1: How much is the interest income on plan assets?

Reference no: EM132696341

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