Question

On January 1, 2013, Burleson Corporation’s projected benefit obligation was $30 million. During 2013 pension benefits paid by the trustee were $4 million. Service cost for 2013 is $12 million. Pension plan assets (at fair value) increased during 2013 by $6 million as expected. At the end of 2013, there was no prior service cost and a negligible balance in net loss–AOCI. The actuary’s discount rate was 10%.

Required:
Determine the amount of the projected benefit obligation at December 31, 2013.\



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  • CreatedDecember 23, 2013
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