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Pharoah Corp. reports the following information (in hundreds of thousands of dollars) to you about its defined benefit pension plan for 2017

Pharoah Corp. reports the following information (in hundreds of thousands of dollars) to you about its defined benefit pension plan for 2017: 

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Expert Solution

 

Computation of the continuity schedule for the DBO for the year as follows:

 

 

 

Pharoah Corp.

Continuity Schedule

2017

Defined Benefits Obligation, opening balance $ 97

Less: Benefits paid to retirees $ 11

Add: Current service cost $ 19

Add: Interest cost $ 10

Add: Past service costs = (cost of plan amendment in year) $ 14

Defined Benefits Obligation, ending balance $ 129

 

 

S Mahalaxmi answered 3 years ago
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