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Wiley GAAP 2008 by Colorado Steven M. Bragg Englewood, Ralph Nach American Express Tax and Business Inc., Barry J. Epstein

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Reconciliation of Beginning and Ending ABO, PBO, and Plan Assets

The following table summarizes the 2007 activity affecting ABO, PBO, and Plan Assets and reconciles the beginning and ending balances per the actuarial report:

 Accumulated benefit obligationProgression of salaries and wagesProjected benefit obligationFair value of plan assets1
Balance, January 1, 2007$ (1,500)$ (400)$ (1,900)$ 1,376
Service cost(90)(24)(114) (a) 
Interest cost(120)(32)(152) (b) 
Benefits paid to retired participants160 160(160)
Actual return on plan assets   158 (c)
Sponsor's contributions   145
Balance, December 31, 2007$ (1,550)$ (456)$ (2,006)$ 1,519
[1]

[1] Assumed to be the same as market‐related value for this illustration.

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