Accounting

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%.
Required:
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:
Required:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the current year.

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3. The following information relates to Schmidt Sausage Co.’s defined benefit pension plan during the current reporting year:
Required:
Determine the amount of pension plan assets at fair value on December 31.

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