Data for 2018 were as follows: PBO, January 1, $240,000 and December 31, $270,000; pension plan assets (fair value) January 1, $180,000, and December 31, $230,000. The projected benefit obligation was underfunded at the end of 2018 by:

Question

Quizplus · Accepted Answer

$\begin{array}{lc}
\text { PBO } & \$(270,000) \
\text { Plan assets } & 230,000 \
\hline \text { Funded status } & \$(40,000) \
\end{array}$

Data for 2018 Were as Follows: PBO, January 1, $240,000