Pearsall Company's defined benefit pension plan had a PBO of $271,000 on January 1, 2021. During 2021, pension benefits paid were $46,000. The discount rate for the plan for this year was 8%. Service cost for 2021 was $88,000. Plan assets (fair value) increased during the year by $55,000. The amount of the PBO at December 31, 2021, was:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Pearsall Company's defined benefit pension plan had a PBO of $271,000 on January 1, 2021. During 2021, pension benefits paid were $46,000. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $36 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting.
Answers (1)
A corporation has perpetual life, until one of its shareholder dies. a. True b. False
Answers (1)
A monopolist that practices perfect price discrimination A. charges one group of buyers a higher price than another group, such as offering a student discount. B. creates no deadweight loss. C.
Answers (2)
Melrose Company has an investment in bonds issued by Roscoe Industries that are classified as available-for-sale securities. The bonds were purchased at par.
Answers (1)
How long do foodbourne illnesses last
Answers (2)
New Questions in Business
General Mills conducted focus groups to collect and interpret data to gain insights into customer preferences and loyalty. Which best describes the process General Mills has used? A. Determining the research design B.
Answers (1)
If the reserve ratio is 10%, and banks do not hold excess reserves, when the Fed purchases $10 million of government bonds, bank reservesA) increase by $10 million and the money supply could eventually increase by $10 million.
Answers (1)
What does a clean kitchen show an inspector about a restaurant? a. a clean kitchen shows that the person in charge is working their shift. b. clean kitchens show that the team is healthy and not sick. c.
Answers (1)
Benjamin Company had the following results of operations for the past year: Sales (16,000 units at $10) $ 160,000 Direct materials and direct labor $ 96,000 Overhead (20% variable) 16,000 Selling and administrative expenses (all fixed) 32,000
Answers (1)
In order to achieve a high economic freedom rating, what should a country do?
Answers (1)