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QUESTION
The accrued interest on the PBO during the current year.
The accrued interest on the PBO during the current year. PBObeg x interest rate (called the settlement rate) Plan assets, January 1, 2000, are $200,000 Projected benefit obligation , January 1, 2000, is $200,000 Annual service cost, $18,000 Settlement (discount) rate = 10% Annual return on plan assets is $20,000, same as expected return. Provide Harvards 2000 pension expense journal entry? What does the account Prepaid / Accrued cost represent? Is it a liability or asset? Is the plan under-funded or over-funded?
