What the amount of the pbo at december was

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Reference no: EM132707630

Problem 1: A company's defined benefit pension plan had a PBO of $270,000 on January 1, 2013. During 2013, pension benefits paid were $43,000. The discount rate for the plan for this year was 11%. Service cost for 2013 was $89,000. Plan assets (fair value) increased during the year by $51,000. The amount of the PBO at December 31, 2013, was:

Option 1: $227,000.

Option 2: $388,700.

Option 3: $345,700.

Option 4: None of these is correct.

Reference no: EM132707630

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