What was the amount of the service cost for the year


The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $6 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuary's discount rate was 5%. What was the amount of the service cost for the year?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What was the amount of the service cost for the year
Reference No:- TGS0706685

Expected delivery within 24 Hours