Determine the amount of the projected benefit obligation

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Reference no: EM131881328

Problem

On January 1 of the current reporting year, Coda Company's projected benefit obligation was $29.6 million. During the year, pension benefits paid by the trustee were $3.6 million. Service cost was $9.6 million. Pension plan assets earned $4.6 million as expected. At the end of the year, there was no net gain or loss and no prior service cost. The actuary's discount rate was 10%.

Required: Determine the amount of the projected benefit obligation at December 31.

Reference no: EM131881328

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