The Maggie Company has a defined benefit pension plan for its employees. The following information pertains to the pension plan as of December 31, 2015: Projected benefit obligation, January 1, 2015 $1,650,000 Service cost, 2015 850,000 Interest cost, 2015 125,000 Payments to retired employees 95,000 Actual return on plan assets 109,600 The amount of the December 31, 2015, projected benefit obligation is $2,530,000 $2,270,400 $2,420,400 $2,515,400

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The Maggie Company has a defined benefit pension plan for its employees. The following information pertains to the pension plan as of December 31, 2015:

Projected benefit obligation, January 1, 2015 $1,650,000
Service cost, 2015 850,000
Interest cost, 2015 125,000
Payments to retired employees 95,000
Actual return on plan assets 109,600

The amount of the December 31, 2015, projected benefit obligation is
$2,530,000
$2,270,400
$2,420,400
$2,515,400
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