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service cost was $27 500 and settlement rate was 10% act $20 000 and benefits paid were $17 500. How much was Hennien Company's Projected Benefts Obli

service cost was $27 500 and settlement rate was 10% act $20 000 and benefits paid were $17 500. How much was Hennien Company's Projected Benefts Obli

FINANCIAL ACCOUNTING
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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At January 1.2017 Hennein Companyhad plan assets of $280,000 and a projected benefit oligation of the same amount During 2017 service cost was $27 500 and settlement rate was 10% actual and expected return on plan assets was $25 000 contributions were $20 000 and benefits paid were $17 500 How much was Hennien Company's Projected Benefits Obligation?
Transcribed Image Text:At January 1.2017 Hennein Companyhad plan assets of $280,000 and a projected benefit oligation of the same amount During 2017 service cost was $27 500 and settlement rate was 10% actual and expected return on plan assets was $25 000 contributions were $20 000 and benefits paid were $17 500 How much was Hennien Company's Projected Benefits Obligation?
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