Hawkins Corporation has the following balances at December 31, 2020. Projected benefit obligation $2,600,000 Plan assets at fair value 2,000,000 Accumulated OCI (PSC) 1,100,000 How should these balances be reported on Hawkins' balance sheet at December 31, 2020?
Hawkins Corporation has the following balances at December 31, 2020. Projected benefit obligation $2,600,000 Plan assets at fair value 2,000,000 Accumulated OCI (PSC) 1,100,000 How should these balances be reported on Hawkins' balance sheet at December 31, 2020?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 6MC
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Question
Hawkins Corporation has the following balances at December 31, 2020.
Projected benefit obligation |
$2,600,000
|
Plan assets at fair value |
2,000,000
|
Accumulated OCI (PSC) |
1,100,000
|
How should these balances be reported on Hawkins' balance sheet at December 31, 2020?
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