Khurana Company's defined benefit pension plan had a PBO of $267,000 on January 1, 2024....
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Accounting
Khurana Company's defined benefit pension plan had a PBO of $267,000 on January 1, 2024. During 2024, pension benefits paid were $43,000. The discount rate for the plan for this year was 10%. Service cost for 2024 was $87,000. Plan assets (fair value) increased during the year by $55,000. The amount of the PBO on December 31, 2024, was:
Multiple Choice
$224,000.
$380,700.
$337,700.
None of these answer choices are correct.
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