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AccountingIntermediate Accounting: Reporting And Analysis3rd Edition

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Chapter 19, Problem 4C
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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

Solutions

Chapter
Section
Problem 1GI
Problem 2GI
Problem 3GI
Problem 4GI
Problem 5GI
Problem 6GI
Problem 7GI
Problem 8GI
Problem 9GI
Problem 10GI
Problem 11GI
Problem 12GI
Problem 13GI
Problem 14GI
Problem 15GI
Problem 16GI
Problem 17GI
Problem 18GI
Problem 19GI
Problem 20GI
Problem 21GI
Problem 22GI
Problem 23GI
Problem 1MC
Problem 2MC
Problem 3MC
Problem 4MC
Problem 5MC
Problem 6MC
Problem 7MC
Problem 8MC
Problem 9MC
Problem 10MC
Problem 1RE
Problem 2RE
Problem 3RE
Problem 4RE
Problem 5RE
Problem 6RE
Problem 7RE
Problem 8RE
Problem 9RE
Problem 10RE
Problem 11RE
Problem 1E
Problem 2E
Problem 3E
Problem 4E
Problem 5E
Problem 6E
Problem 7E
Problem 8E
Problem 9E
Problem 10E
Problem 11E
Problem 12E
Problem 13E
Problem 14E
Problem 15E
Problem 16E
Problem 1P
Problem 2P
Problem 3P
Problem 4P
Problem 5P
Problem 6P
Problem 7P
Problem 8P
Problem 9P
Problem 10P
Problem 11P
Problem 12P
Problem 1C
Problem 2C
Problem 3C
Problem 4C
Problem 5C
Problem 6C
Problem 7C
Problem 9C
BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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In this chapter, conceptual issues related to pension liabilities and the presentation of pension assets are examined.

Required:

Explain the conceptual issues for pension liabilities and assets and discuss how GAAP resolves each of these three conceptual issues.

To determine

Describe the conceptual issues related to pension liabilities and assets, and explain the manner in which GAAP resolves the conceptual issues.

Explanation

Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after their retirement, in the form of pension.

Describe the conceptual issues related to pension liabilities and assets, and explain the manner in which GAAP resolves the conceptual issues as follows:

1. Pension liabilities: The conceptual issued related to the pension liabilities involves,

(a) The definition of a liability: A liability is a future sacrifice of economic benefits that would arise from a present obligation of the company in order to transfer the asset or provide service in future as a result of the past transactions and events. Pension is a form of deferred compensation hence it is considered as a liability.

(b) There are five alternatives to recognize the pension liability. They are,

  • Employer contribution to the pension fund based on the actuarial funding method.
  • Recognition of total pension fund till the employee service period.
  • Termination liability of employer.
  • The amount of vested benefits earned by employees...

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Chapter 19 Solutions

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Ch-19 P-1GICh-19 P-2GICh-19 P-3GICh-19 P-4GICh-19 P-5GICh-19 P-6GICh-19 P-7GICh-19 P-8GICh-19 P-9GICh-19 P-10GI
Ch-19 P-11GICh-19 P-12GICh-19 P-13GICh-19 P-14GICh-19 P-15GICh-19 P-16GICh-19 P-17GICh-19 P-18GICh-19 P-19GICh-19 P-20GICh-19 P-21GICh-19 P-22GICh-19 P-23GICh-19 P-1MCCh-19 P-2MCCh-19 P-3MCCh-19 P-4MCCh-19 P-5MCCh-19 P-6MCCh-19 P-7MCCh-19 P-8MCCh-19 P-9MCCh-19 P-10MCCh-19 P-1RECh-19 P-2RECh-19 P-3RECh-19 P-4RECh-19 P-5RECh-19 P-6RECh-19 P-7RECh-19 P-8RECh-19 P-9RECh-19 P-10RECh-19 P-11RECh-19 P-1ECh-19 P-2ECh-19 P-3ECh-19 P-4ECh-19 P-5ECh-19 P-6ECh-19 P-7ECh-19 P-8ECh-19 P-9ECh-19 P-10ECh-19 P-11ECh-19 P-12ECh-19 P-13ECh-19 P-14ECh-19 P-15ECh-19 P-16ECh-19 P-1PCh-19 P-2PCh-19 P-3PCh-19 P-4PCh-19 P-5PCh-19 P-6PCh-19 P-7PCh-19 P-8PCh-19 P-9PCh-19 P-10PCh-19 P-11PCh-19 P-12PCh-19 P-1CCh-19 P-2CCh-19 P-3CCh-19 P-4CCh-19 P-5CCh-19 P-6CCh-19 P-7CCh-19 P-9C

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