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Pearsall Company's defined benefit pension plan had a PBO of $269,000 on January 1, 2021. During 2021, pension benefits paid were $43,000. The discount rate for the plan for this year was 11%. Service cost for 2021 was $86,000. Plan assets (fair value) increased during the year by $47,000. The amount of the PBO at December 31, 2021, was: Multiple Choice None of these answer choices are correct. $341,590. $226,000. $384,59

Sagot :

abiolataiwo2015

Answer:

$341,590

Explanation:

Calculation to determine what The amount of the PBO at December 31, 2021, was

PBO/1/1 $269,000

Service cost $86,000

Interest cost ($269,000 × 11%) $29,590

Benefits paid ($43,000)

PBO 12/31 $341,590

Therefore The amount of the PBO at December 31, 2021, was $341,590

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