Question
Pearsall Company's defined benefit pension plan had a PBO of $268,000 on January 1, 2021. During 2021, pension benefits paid were $44,000. The discount rate
Pearsall Company's defined benefit pension plan had a PBO of $268,000 on January 1, 2021. During 2021, pension benefits paid were $44,000. The discount rate for the plan for this year was 9%. Service cost for 2021 was $89,000. Plan assets (fair value) increased during the year by $47,000. What was the amount of the PBO at December 31, 2021:
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PBO at 11 268000 Add Service cost 89...
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
