Richmond Company's defined benefit pension plan had a Projected Benefit Obligation (PBO) of $250,000 on January 1, 2021. During 2021, a) Richmond paid pension benefit of $30,000, b) the plan's discount rate was 10%; c) the plan's service cost was $95,0003; and d) the plan assets increased by $70,000. What is the value of Richmond's PBO at December 31, 2021? Multiple Choice $270,000 O $340,000 O $245,000 O $410,000

Richmond Company's defined benefit pension plan had a Projected Benefit Obligation (PBO) of $250,000 on January 1, 2021. During 2021, a) Richmond paid pension benefit of $30,000, b) the plan's discount rate was 10%; c) the plan's service cost was $95,0003; and d) the plan assets increased by $70,000. What is the value of Richmond's PBO at December 31, 2021? Multiple Choice $270,000 O $340,000 O $245,000 O $410,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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