The pension asset / liability reported on the balance sheet at December 31, 2021 is: pension liability of $1102000.
The pension asset / liability reported on the balance sheet at December 31, 2021 is: pension liability of $1102000.
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 4E
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Presented below is information related to Blossom Manufacturing Company as of December 31, 2021:
Projected benefit obligation | $ | 1600000 | |
Accumulated OCI -net gain | 580000 | ||
Accumulated OCI (PSC) | 790000 |
The amount for the prior service cost is related to an increase in benefits. The fair value of the pension plan assets is $1102000.
The pension asset / liability reported on the
pension liability of $1102000.
Pension liability of $498000.
Pension liability of $2390000.
Pension liability of $1600000.
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