Question: Given the following information for current fiscal year Beginning balance of plan assets at market value - $1,560,000 actual return on plan assets - 210,000 employers contribution - 150,000 distribution to beneficiaries - 75,000 Service cost 125,000 Interest cost 156,000 Changes in benefits and assumptions - 35,000 beginning balance of the PBO - 1,580,000 What is the ending balance of the projected benefit obligation (PBO)?

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.3.2P
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What is PBO?

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Given the following information for current fiscal year
Beginning balance of plan assets at market value - $1,560,000
actual return on plan assets - 210,000
employers contribution - 150,000
distribution to beneficiaries - 75,000
Service cost 125,000
Interest cost 156,000
Changes in benefits and assumptions - 35,000
beginning balance of the PBO - 1,580,000
What is the ending balance of the projected benefit obligation (PBO)?
Transcribed Image Text:Question: Given the following information for current fiscal year Beginning balance of plan assets at market value - $1,560,000 actual return on plan assets - 210,000 employers contribution - 150,000 distribution to beneficiaries - 75,000 Service cost 125,000 Interest cost 156,000 Changes in benefits and assumptions - 35,000 beginning balance of the PBO - 1,580,000 What is the ending balance of the projected benefit obligation (PBO)?
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