Question
The Hillcrest Company sponsors a defined benefit pension plan. The following information pertains to that plan: Projected benefit obligation at January 1, 2018, $160 million;
The Hillcrest Company sponsors a defined benefit pension plan. The following information pertains to that plan: Projected benefit obligation at January 1, 2018, $160 million; Service cost for 2018, $20 million; Retiree benefits paid (end of year), $24 million; Discount rate, 5%. No change in actuarial estimates occurred during 2018. What is Hillcrests projected benefit obligation at December 31, 2018?
a. $160 million b. $164 million c. $180 million d. $188 million
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Intermediate Accounting Volume 1
Authors: Kin Lo, George Fisher
4th Edition
013523610X, 9780135236109
