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Mekhanik [1.2K]
3 years ago
12

A company's defined benefit pension plan had a pension benefit obligation (PBO) of $265,000 on 1/1/2018. During 2018, pension be

nefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2018 was $80,000. Plan assets (fair value) increased during the year by $45,000. The amount of PBO at December 31, 2018 was what?
Business
1 answer:
muminat3 years ago
6 0

Answer:

The pension benefit obligation will be $331500

Explanation:

We have given PBO = $265000

Less pension benefits paid = $40000

Discount rate = 10% = 0.01

Service cost = $80000

Interest cost = $265000×0.01= $26500

We have to find the amount  of PBO

So the pension benefit obligation PBO will be  = $265000+$80000+$26500-$40000 = $331500

So the pension benefit obligation will be $331500

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