A company's postretirement health care benefit plan had an APBO of $265,000 on January 1, 2018. During 2018, retiree benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2018 was $80,000. Plan assets (fair value) increased during the year by $45,000. The amount of the APBO at December 31, 2018, was: a. $305,000 b. $371,500 c.$225,000 d.$331,500

A company's postretirement health care benefit plan had an APBO of $265,000 on January 1, 2018. During 2018, retiree benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2018 was $80,000. Plan assets (fair value) increased during the year by $45,000. The amount of the APBO at December 31, 2018, was: a. $305,000 b. $371,500 c.$225,000 d.$331,500

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 11RE

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