A companys defined benefit pension plan had a pbo of 265000, Ask an Expert

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A company's defined benefit pension plan had a PBO of $265,000 on January 1, 2009. During 2009, pension benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2009 was $80,000. Plan assets (fair value) increased during the year by $45,000. Required: Determine the amount of the PBO at December 31, 2009.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9102585

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