Mars inc has a defined benefit pension plan on december 31, Accounting Basics

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Mars inc has a defined benefit pension plan on december 31

Problem

Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report: ending PBO, $119,000; benefits paid to retirees, $11,000; interest cost, $8,300. The discount rate applied by the actuary was 10%. What was the beginning PBO?

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Accounting Basics: Mars inc has a defined benefit pension plan on december 31

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Accounting Basics: Mars inc has a defined benefit pension plan on december 31

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