The projected benefit obligation was $480 million at the beginning of the year. Service cost for the year was $26 million. At the end of the year, pension benefits paid by the trustee were $22 million and there were no pension-related other comprehensive income accounts. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million

The projected benefit obligation was $480 million at the beginning of the year. Service cost for the year was $26 million. At the end of the year, pension benefits paid by the trustee were $22 million and there were no pension-related other comprehensive income accounts. The actuary's discount rate was 5%. What was the amount of the projected benefit obligation at year-end? End of the year PBO million

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 7RE

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