The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pensionrelated other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. What was the amount of the service cost for the year?
The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pensionrelated other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. What was the amount of the service cost for the year?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 3RE: Pinecone Company has plan assets of 500,000 at the beginning of the current year and expects to earn...
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The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the
year. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pensionrelated
other comprehensive income accounts requiring amortization. The actuary’s discount rate was 5%. What
was the amount of the service cost for the year?
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