The PBO was $100 million at the beginning of the year. Service cost for the year was $12 million. At the end of the year, pension benefits paid by the trustee were $8 million and there were no pension-related OCI account. The actuary's discount rate was 5%. What was the amount fo the PBO at the end of the year? (Enter your answer in million, round to the nearest million, without dollar sign, ex. 123 or -123).

Q: Answer is complete but not entirely correct. $ Retiree benefits 41 million

A: The income and assistance offered to retired employees from their work are called retiree benefits.…

Q: The PBO was $100 million at the beginning of the year and $108 million at the end of the year.…

A: Formula: Ending PBO = Beginning PBO + Interest on beginning PBO + Service cost - benefits paid

Q: Pension plan assets were $320 million at the beginning of the year. The return on plan assets was…

A: Pension plan assets are the amount that are kept as funds by the company to meet the compensation or…

Q: The projected benefit obligation was $80 million at the beginning of the year and $85 million at the…

A: Service cost: Service cost meanse the present value of retirement benefit earned by the employees…

Q: es Harrison Forklift's pension expense includes a service cost of $10 million. Harrison began the…

A: PBO can be used to explain the present value of all pension benefits obtained by employees on the…

Q: The projected benefit obligation was $80 million at the beginning of the year. Service cost for the…

A: Particulars Amount Service cost $10 million Add: Interest cost on projected benefit…

Q: The projected benefit obligation was $240 million at the beginning of the year. Service cost for the…

A: End of the year PBO$256millionExplanation:Beginning PBOAt the start of the year, the projected…

Q: The projected benefit obligation was $260 million at the beginning of the year and $278 million at…

A: Closing obligation is calculated using the following formula:

Q: Please no written by hand solutions Pension plan assets were $80 million at the beginning of the…

A: Retirement benefits can play an important role in attracting and retaining employees, as well as in…

Q: Harrison Forklift's pension expense includes a service cost of $23 million. Harrison began the year…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The projected benefit obligation was $480 million at the beginning of the year. Service cost for the…

A: The Projected Benefit Obligation (PBO) is an accounting term used in the context of employee pension…

Q: The projected benefit obligation was $80 million at the beginning of the year and $85 million at the…

A: Service cost: Service cost meanse the present value of retirement benefit earned by the employees…

Q: On January 1 of the current reporting year, Hatami Company's projected benefit obligation was $29.6…

A: A PBO (Projected Benefit Obligation) is an actuarial measurement which shows the amount to cover…

Q: Pension plan assets were $80 million at the beginning of the year and $83 million at the end of the…

A: Plan assets at the end of year = Plan assets at the beginning + Return on plan + Cash contribution -…

Q: The projected benefit obligation was $80 million at the beginning of the year. Service cost for the…

A: Service cost:  Service cost meanse the present value of retirement benefit earned by the employees…

Q: The projected benefit obligation was $300 million at the beginning of the year. Service cost for the…

A:

Q: Pension plan assets were $120 million at the beginning of the year and $130 million at the end of…

A:

Q: Brooks Co. had pension plan assets and PBO of $150,000 on 1/1/24. Service cost for the year was…

A: Pension Expense represents the cost a company incurs for its employee pension plan. It includes…

Q: Harrison Forklift's pension expense includes a service cost of $12 million. Harrison began the year…

A: Projected benefit obligation, is commonly known as PBO- it is the present value of pension plans…

Q: Harrison Forklift's pension expense includes a service cost of $24 million. Harrison began the year…

A: Scenario 1:Interest cost, $12; expected return on assets, $18; amortization of net loss, $5.Journal…

Q: On January 1 of the current reporting year, Nike Inc.'s projected benefit obligation was $29.2…

A: The projected benefit obligation is the actual present value of benefits that are attributed by the…

Q: The PBO was $100 million at the beginning of the year and $114 million at the end of the year. At…

A: Interest in PBO=Beginning PBO×Discount rate=$100,000,000×5%=$5,000,000

Q: The projected benefit obligation was $400 million at the beginning of the year and $429 million at…

A:

Q: On January 1 of the current reporting year, Coda Company's projected benefit obligation was $29.3…

A: Interest cost = Projected benefit obligation x actuary's discount rate = $29.3 x 10% = $2.93

Q: The projected benefit obligation was $80 million at the beginning of the year and $85 million at the…

A: