E5 (Pension Entries) Assume that the actuarially required pension plan contribution for a county for its general government employees is $8,000,000. Compute the pension expenditures to be reported in each of the following situations: The county contributed $5,000,000 to the pension plan. Its unfunded pension liability increased by $3,000,000 (all classified as unmatured). The county contributed $4,500,000 to the pension plan. Its unfunded pension liability increased by $3,500,000 (all classified as unmatured). The county contributed $4,200,000 to the pension plan. The matured portion of its unfunded pension liability increased $150,000. The county contributed $9,000,000 to the pension plan. The matured portion of its unfunded pension liability decreased $200,000.
E5 (Pension Entries) Assume that the actuarially required pension plan contribution for a county for its general government employees is $8,000,000. Compute the pension expenditures to be reported in each of the following situations: The county contributed $5,000,000 to the pension plan. Its unfunded pension liability increased by $3,000,000 (all classified as unmatured). The county contributed $4,500,000 to the pension plan. Its unfunded pension liability increased by $3,500,000 (all classified as unmatured). The county contributed $4,200,000 to the pension plan. The matured portion of its unfunded pension liability increased $150,000. The county contributed $9,000,000 to the pension plan. The matured portion of its unfunded pension liability decreased $200,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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E5 (Pension Entries) Assume that the actuarially required pension plan contribution for a county for its general government employees is $8,000,000. Compute the pension expenditures to be reported in each of the following situations:
- The county contributed $5,000,000 to the pension plan. Its unfunded pension liability increased by $3,000,000 (all classified as unmatured).
- The county contributed $4,500,000 to the pension plan. Its unfunded pension liability increased by $3,500,000 (all classified as unmatured).
- The county contributed $4,200,000 to the pension plan. The matured portion of its unfunded pension liability increased $150,000.
- The county contributed $9,000,000 to the pension plan. The matured portion of its unfunded pension liability decreased $200,000.
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