Problem 1 - 20 points Bronks Co. had pension plan assets and PBO of $150,000 on 1/1/19.
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Problem 1 - 20 points
Bronks Co. had pension plan assets and PBO of $150,000 on 1/1/19. Service cost for the year was $40,000. It contributed $30,000 during the year and paid benefits of $20,000. The interest rate was 10%. The actual return was $12,000. Compute pension expense, PBO and PA at the end of the year.
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