Horizon Industries provides the following information for its current fiscal year: • Beginning balance of plan assets at market value: $2,500,000 Actual return on plan assets: $350,000 Employer's contribution: $250,000 Distribution to beneficiaries: $150,000 • • Service cost: $200,000 • Interest cost: $250,000 Changes in benefits and assumptions: $60,000 Beginning balance of the PBO: $2,600,000 What is the ending balance of the projected benefit obligation (PBO)?
Horizon Industries provides the following information for its current fiscal year: • Beginning balance of plan assets at market value: $2,500,000 Actual return on plan assets: $350,000 Employer's contribution: $250,000 Distribution to beneficiaries: $150,000 • • Service cost: $200,000 • Interest cost: $250,000 Changes in benefits and assumptions: $60,000 Beginning balance of the PBO: $2,600,000 What is the ending balance of the projected benefit obligation (PBO)?
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:Horizon Industries provides the following information for its current fiscal year:
•
Beginning balance of plan assets at market value: $2,500,000
Actual return on plan assets: $350,000
Employer's contribution: $250,000
Distribution to beneficiaries: $150,000
•
•
Service cost: $200,000
•
Interest cost: $250,000
Changes in benefits and assumptions: $60,000
Beginning balance of the PBO: $2,600,000
What is the ending balance of the projected benefit obligation (PBO)?
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