The following refers to the pension spreadsheet (columns have missing amounts) for the current year for Pancho Villa Enterprises (PVE).
($ in millions)
debit (credit) |
PBO |
Plan
Assets |
Prior
Service
Cost |
Net
(Gain)
Loss |
Pension
Expense |
Cash |
Net
Pension
(Liability)
Asset |
| Beginning balance |
|
450 |
60 |
55 |
|
|
50 |
| Service cost |
(85) |
|
|
|
|
|
|
| Interest cost |
(25) |
|
|
|
|
|
|
| Expected return on assets |
|
55 |
|
|
|
|
|
| Gain/loss on assets |
|
|
|
3 |
|
|
|
| Amortization of: |
|
|
|
|
|
|
|
| Prior service cost |
|
|
|
|
|
|
|
| Net gain/loss |
|
|
|
(1) |
|
|
|
| Loss on PBO |
(65) |
|
|
|
|
|
|
| Contributions to fund |
|
40 |
|
|
|
|
|
| Retiree benefits paid |
|
|
|
|
|
|
|
| Ending balance |
(530)
|
|
54
|
122
|
|
|
|
What is the PBO at the beginning of the year? a. 160, b. 400, c. 500, d. 610