ezto.mheducation.com connect Intermediate Accounting 303: ACCT 303 01 Spring 201

Question

ezto.mheducation.com connect Intermediate Accounting 303: ACCT 303 01 Spring 2018 ACCOUNTING Chapter 17 HW Question 21 (of 23) 21. 5.00 points The projected benefit obligation was $220 million at the beginning of the year and $225 million at the end of the year. Service cost for the year was $13 million. At the end of the year, pension benefits paid by the trustee were $9 million. The actuary's discount rate was 5%. At the end of the year, the actuary revised the estimate of the percentage rate of increase in compensation levels in upcoming years What was the amount of the gain or loss the estimate change caused? million 44 1 -W esc

Explanation / Answer

The amount of of the gain or loss the estimate change caused:

225 - 13 = 212

213 - 9 = 204

204 * 5% = $10.2

GAIN $10.2 MILLION

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