Question
A company's defined benefit pension plan had a PBO of $268,000 on January 1, 2016. During 2016, pension benefits paid were $42,000. The discount rate
A company's defined benefit pension plan had a PBO of $268,000 on January 1, 2016. During 2016, pension benefits paid were $42,000. The discount rate for the plan for this year was 10%. Service cost for 2016 was $84,000. Plan assets (fair value) increased during the year by $50,000. The amount of the PBO at December 31, 2016, was:
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Horngrens Accounting
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann Johnston, Peter R. Norwood
11th Canadian Edition Volume 2
0135359783, 978-0135359785
