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The following incomplete (columns have missing amounts) pension spreadsheet is for Celtics Corporation. ($ in millions) debit (Credit) PBO Plan Assets Prior Service Cost Net
The following incomplete (columns have missing amounts) pension spreadsheet is for Celtics Corporation.
($ in millions) debit (Credit) | PBO | Plan Assets | Prior Service Cost | Net (Gain) Loss | Pension Expense | Cash | Net Pension (Liability)/Asset | ||||||||||||||||||||
Beginning balance | (530) | 67 | |||||||||||||||||||||||||
Service cost | 71 | ||||||||||||||||||||||||||
Interest cost | |||||||||||||||||||||||||||
Expected return on assets | (26) | ||||||||||||||||||||||||||
Gain/loss on assets | (2) | ||||||||||||||||||||||||||
Amortization of: | |||||||||||||||||||||||||||
Prior service cost | (9) | ||||||||||||||||||||||||||
Net gain/ loss | |||||||||||||||||||||||||||
Loss on PBO | (28) | 28 | |||||||||||||||||||||||||
Contributions to fund | (65 | ) | |||||||||||||||||||||||||
Retiree benefits paid | 49 | (49) | |||||||||||||||||||||||||
Ending balance | (610 | ) | 306 | 63 | 87 | (304 | ) | ||||||||||||||||||||
What was the prior service cost at the beginning of the year?
Multiple Choice
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$54 million.
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$65 million.
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$72 million.
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$63 million.
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