At January 1.2017 Hennein Companyhad plan assets of $280,000 and a projected benefit oligation of the same amount During 2017service cost was $27 500 and settlement rate was 10% actual and expected return on plan assets was $25 000 contributions were$20 000 and benefits paid were $17 500How much was Hennien Company's Projected Benefits Obligation?

Answered: service cost was $27 500 and settlement…

service cost was $27 500 and settlement rate was 10% act $20 000 and benefits paid were $17 500. How much was Hennien Company's Projected Benefts Obli

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

At January 1.2017 Hennein Companyhad plan assets of $280,000 and a projected benefit oligation of the same amount During 2017
service cost was $27 500 and settlement rate was 10% actual and expected return on plan assets was $25 000 contributions were
$20 000 and benefits paid were $17 500
How much was Hennien Company's Projected Benefits Obligation?

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