What was the service cost for the year, Accounting Basics

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What was the service cost for the year

Louie Company 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, $110,000; benefits paid to retirees, $12,000; interest cost, $8,000. The discount rate applied by the actuary was 8%. What was the service cost for the year?

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Accounting Basics: What was the service cost for the year

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Accounting Basics: What was the service cost for the year

Reference No:- TGS083631

Recent Questions Asked Accounting Basics

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