Lawrence Company has a defined benefit pension plan. On December 31 of the current year (the end
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Question:
Lawrence Company has a defined benefit pension plan. On December 31 of the current year (the end of the fiscal year), the actuary's report to the company contained the following information: Ending PBO, $118,000; benefits paid to retirees, $20,000; interest cost, $12,000. The discount rate applied to be the actuary was 11%.
What was the service cost for the year?
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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