Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2010, phoenix company estimated a pr

On January 1, 2010, Phoenix Company estimated a projected benefit obligation of P4,400,000 based on...

80.2K

Verified Solution

Question

Accounting

On January 1, 2010, Phoenix Company estimated a projected benefit obligation of P4,400,000 based on a settlement rate of 12%. Pension benefits paid to retirees totaled P600,000. Service cost for 2010 amounted to P1,480,000. The fair value of plan assets totaled P3,500,000 and P4,000,000 on January 1, 2010 and December 31, 2010, respectively. What is the projected benefit obligation on December 31, 2010?

A. 6,408,000

B. 5,808,000

C. 5,280,000

D. 6,308,000

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How many unique 1 H NMR signals exist in the spectrum of the following compound: 1,3-dibromobenzene?

Chemistry
Q

Case Study – Diabetes Mellitus Mohinder, a 28 year old male, had been diagnosed with diabetes...

Medical Sciences
Q

An n-type silicon wafer undergoes a pre-deposition diffusion process with a constant surface concentration of boride...

Physics
Q

eeCampus x t take launch jsp course X

Biology
Q

B A Identify the structure labeled G C D E F E F G H

Biology
Q

d b C 60 Cord m String 1975B7 A pendulum consists of a small object...

Physics
Q

Calculate the Medicare for the following employee, Jameison, whose cumulative earnings up to this pay...

Accounting
Q

in which of the following situations should an employee provide a new form W-4 to...

Accounting
Q

Match the following expenses with the most accurate cost category on a contribution margin income...

Accounting
Q

What is proportionate consolidation? and how will it affect the Joint Venture? Can a JV...

Accounting
Q

Diversified Systems, Inc. reports consolidated financial statements this year in place of statements of individual...

Accounting
Q

(Profitability analysis) The R. M. Smithers Corporation earned an operating peofin margin of 10.6 percent...

Finance