At January 1, 2019, Jolly Company had plan assets of P2, 800,000 and a projected benefit obligation of the same amount. During 2019, service cost was P275,000, the settlement rate was 10%, actual and expected return on plan assets were P250,000, contributions were P200,000, and benefits paid were P175,000

At January 1, 2019, Jolly Company had plan assets of P2, 800,000 and a projected benefit obligation of the same amount. During 2019, service cost was P275,000, the settlement rate was 10%, actual and expected return on plan assets were P250,000, contributions were P200,000, and benefits paid were P175,000

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter19: Deferred Compensation

Section: Chapter Questions

Problem 16CE

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