The projected benefit obligation was $360 million at the beginning of the year and $386 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $16 million and there were no pension - related other comprehensive income accounts. The actuary 's discount rate was 5%. What was the amount of the service cost for the year?

The projected benefit obligation was $360 million at the beginning of the year and $386 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $16 million and there were no pension - related other comprehensive income accounts. The actuary 's discount rate was 5%. What was the amount of the service cost for the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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