Compute the amount of the PBO

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Question: 1. Rick Co. had 33 million shares of $1 par common stock outstanding at January 1, 2016. In October, 2016, Rick Co.'s Board of Directors declared and distributed a 1% common stock dividend when the market value of its common stock was $56 per share. In recording this transaction, Rick would:

2. A company's defined benefit pension plan had a PBO of $268,000 on January 1, 2016. During 2016, pension benefits paid were $41,000. The discount rate for the plan for this year was 10%. Service cost for 2016 was $89,000. Plan assets (fair value) increased during the year by $47,000. The amount of the PBO at December 31, 2016, was?

Reference no: EM131884343

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