11 Information on Chang Company’s defined benefit plan is shown below: Present value of benefit obligation, January 1 480,000 Current service cost 120,000 Interest cost 10% Benefits paid to retirees 200,000 Decrease in present value of defined benefit obligation during the year due to changes in actuarial assumption 40,000 How much is the ending balance of the present value of defined benefit obligation? Group of answer choices 448,000 608,000 408,000 480,000
11 Information on Chang Company’s defined benefit plan is shown below: Present value of benefit obligation, January 1 480,000 Current service cost 120,000 Interest cost 10% Benefits paid to retirees 200,000 Decrease in present value of defined benefit obligation during the year due to changes in actuarial assumption 40,000 How much is the ending balance of the present value of defined benefit obligation? Group of answer choices 448,000 608,000 408,000 480,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
11
Information on Chang Company’s defined benefit plan is shown below:
|
Present value of benefit obligation, January 1 |
480,000 |
|
Current service cost |
120,000 |
|
Interest cost |
10% |
|
Benefits paid to retirees |
200,000 |
|
Decrease in present value of defined benefit obligation during the year due to changes in actuarial assumption |
40,000 |
How much is the ending balance of the present value of defined benefit obligation?
Group of answer choices
448,000
608,000
408,000
480,000
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