A director of Easy Company shall receive a retirement benefit of 10% of the final...
70.2K
Verified Solution
Link Copied!
Question
Accounting
A director of Easy Company shall receive a retirement benefit of 10% of the final salary per annum for a contractual period of three years. The director does not contribute to the scheme. The anticipated salary over the three years is P1,000,000 for 2010, P1,200,000 for 2011 and P1,440,000 for 2012. The discount rate is 5%. Using the projected unit credit method, what is the estimated pension liability on December 31, 2011?
A. 274,284
B. 288,000
C. 130,608
D. 144,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
