Davison Company has a noncontributory defined benefit pension plan for its employees. During 2019, the pension plan has a discount rate of 8%, service cost of $98,000, plan assets as of 1/1/19 of $432,000, and an expected return on plan assets of $34,560. On December 31, 2019, Davison contributed $90,000 to the pension plan, resulting in a credit to Accrued/Prepaid Pension Cost of $6,300. What is the amount of the projected benefit obligation on January 1, 2019? a. $410,750 b. $345,600 c. $332,000 d. $432,00

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.