On January 1 of the current reporting year, Coda Company’s projected benefit obligation was $30 million. During the year, pension benefits paid by the trustee were $4 million. Service cost was $10 million. Pension plan assets earned $5 million as expected. At the end of the year, there was no net gain or loss and no prior service cost. The actuary’s discount rate was 10%.
Determine the amount of the projected benefit obligation at December 31.
2.. Pension data for Matta Corporation include the following for the current calendar year:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the current year.
3. The following information relates to Schmidt Sausage Co.’s defined benefit pension plan during the current reporting year:
Determine the amount of pension plan assets at fair value on December 31.
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