On january 1 20x2 paul corsquos defined benefit pension, Ask an Expert

Accounting

On January 1, 20X2, Paul Co.’s defined benefit pension plan had plan assets with a fair value of $750,000, and a projected plan obligation of $875,000. In addition:

Actual and expected return on plan assets – 7%

Interest cost – 9%

Service costs - $24,000

Unamortized prior service cost - $120,000

Employer contributions to the plan - $45,000

Distributions to employees from the plan - $60,000

Assume that pension expense is $80,000, what will be the projected benefit obligation at December 31, 20X2?

A.$977,750

B.$865,250

C.$953,750

D.$917,750

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92019650

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