Data for 2021 were as follows: PBO, January 1, $243,000 and December 31, $278,000; pension plan assets (fair value) January 1, $

Question

3 years ago

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186,000, and December 31, $233,000. The projected benefit obligation was underfunded at the end of 2021 by:

1 answer:

tester [92] · Answer 1 · 2022-06-09T15:02:20+03:00

7 0

Answer:

$45,000

Explanation:

Computation for the projected benefit obligation

December 31 PBO($278,000)

December 31 Plan assets 233,000

Funded status($45,000)

Therefore the projected benefit obligation was underfunded at the end of 2021 by: $45,000