On January 1 of the current reporting year, Zheng, Inc projected benefit obligation was $30 million. During the year, pension benefits paid by the trustee were $4 million. Service cost was $10 million. Pension plan assets earned $5 million as expected. At the end of the year, there was no net gain or loss and no prior service cost. The actuary's discount rate was 10%.

Required:

Determine the amount of the projected benefit obligation at December 31.

Answer rating: 100% (QA)

A Amount Particulars 1 millions 2 ... View the full answer