Show all your workings? On January 1, 2019, HULA Co. provided these data...
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Accounting
Show all your workings?
On January 1, 2019, HULA Co. provided these data concerning its defined benefit plan: Fair value of plan assets Defined benefit obligation Prepaid/accrued benefit cost - credit P9,500,000 12,000,000 P2,500,000 The transactions for 2019 are as follows: P1,800,000 1,100,000 2,700,000 2,000,000 Current service cost Actual return on plan assets Contribution to the plan Benefits paid to retirees Increase in defined benefit plan due to change in actuarial assumptions Present value of defined benefit obligation settled Settlement price of defined benefit obligation Discount rate 150,000 600,000 800,000 10% How much is the Prepaid/accrued benefit cost on December 31, 2019
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