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Armando Hernandez Fashions, Inc. sponsors a defined-benefit pension plan for its employees. The company's pension trust provided the following information: fair value of beginning
Armando Hernandez Fashions, Inc. sponsors a defined-benefit pension plan for its employees. The company's pension trust provided the following information: fair value of beginning plan assets $500.000, projected benefit obligation at the beginning of the year, $678,000; service cost, $54,000; interest on beginning PBO, $56,900; actual loss on plan assets, $35,800 composed of expected gains of $50,000 and unexpected losses of $85,800; actuarial gains because of assumptions about PBO, $98,543; benefit payments made to retirees, $29,780; and contributions made by the sponsor corporation, $86,500. There is no amortization necessary under the corridor approach. Compute the ending balance of the projected benefit obligation (Abbreviations used. PBO Projected Benefit Obligation. If an input field is not used in the statement, leave the field empty, do not select a label or enter a zero.) PBO Ending Balance of PBO Amount CXD
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