A company's defined benefit pension plan had a projected benefit obligation (PBO) of $265,000 on January 1,
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Question:
A company's defined benefit pension plan had a projected benefit obligation ("PBO") of $265,000 on January 1, 2018. During 2018, pension benefits paid were $40,000. The discount rate for the plan for the year was 10%. Service cost for 2018 was $80,000, The amount of the PBO at December 31, 2018, was:
A) $225,000.
B) $305,000.
C) $331,500.
D) $345,000.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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