3. On November 30, the Board of Directors of Baldwin Corporation amended its pen

Question

3. On November 30, the Board of Directors of Baldwin Corporation amended its penslon plan gliving retroactive benefits to its employees. The Information below is provided at November 30 Accumulated beneft obligation (ABO) $825,000 900,000 307,500 301,150 190,000 10Years 20 Years Projected beneft obligation (PBO) Plan assets (fair value) Market-related asset value Prior service cost Average remaining service life of employees Useful life of pension goodwill Using the stralight-line method of amortization, the amount of prior service cost charged to expense during the year ended November 30 is O $30.250 O $19,000 O $190.000 O $9500

Explanation / Answer

PSC will be amortized during the remanining service life of employee

= 190000 / 10 years

= $ 19000

Option B is correct.

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