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What is the employee benefit expense

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On January 1, 2020 , Reshel Company reported the fair value of plan assets at P6,700,000 and projected benefit obligation at P7,600,000 . The entity revealed the following for the current year:

Current service cost 1,150,000
Past service cost 300,000
Discount rate 10%
Actual return on plan assets 500,000
Contribtution to the plan 1,500,000
Benefits paid to retirees 800,000

Problem 1: What is the employee benefit expense?

Reference no: EM132712716

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