Saved Help Save & ExitSubr On January 1 of th benefits paid by the trustee were

Question

Saved Help Save & ExitSubr On January 1 of th benefits paid by the trustee were $3.7 million. Service cost w e current reporting year, Coda Company's projected benefit obligation was $29.7 million. During the year, pension as $9.7 million. Pension plan assets earned $4.7 million as expected. At the year, there was no net gain or loss and no prior service cost. The actuary's discount rate was 10%. Required: Determine the amount of the projected benefit obligation at December 31. (Enter places. Amounts to be deducted should be indicated with a minus sign.) your answers in millions rounded to 2 decimal ($ in millions) Beginning PBO Ending PBO

Explanation / Answer

begining PBO 29.7

service cost 9.7

interest cost 2.97

( 29.7 * 10%)

loss (gain) on PBO 0

benefits paid ( 3.7)

ending PBO = 38.67

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