For 2020, Carson Majors Inc. had pension expense of $77 million and contributed $55 million to the pension fund. Which of the following is the journal entry that Carson Majors would make to record pension expense and funding? a. Pension Expense 77,000,000 00Pension Asset/Liability 22,000,000 00Cash 55,000,000 b. Pension Expense 77,000,000 Pension Asset/Liability 22,000,000 00Cash 99,000,000 c. Pension Expense 55,000,000 Pension Asset/Liability 22,000,000 00Cash 77,000,000 d. Pension Expense 22,000,000 Pension Asset/Liability 55,000,000 00Cash 77,000,000
For 2020, Carson Majors Inc. had pension expense of $77 million and contributed $55 million to the pension fund. Which of the following is the journal entry that Carson Majors would make to record pension expense and funding? a. Pension Expense 77,000,000 00Pension Asset/Liability 22,000,000 00Cash 55,000,000 b. Pension Expense 77,000,000 Pension Asset/Liability 22,000,000 00Cash 99,000,000 c. Pension Expense 55,000,000 Pension Asset/Liability 22,000,000 00Cash 77,000,000 d. Pension Expense 22,000,000 Pension Asset/Liability 55,000,000 00Cash 77,000,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For 2020, Carson Majors Inc. had pension expense of $77 million and contributed $55 million to the pension fund. Which of the following is the
| a. | Pension Expense | 77,000,000 | |
| 00Pension Asset/Liability | 22,000,000 | ||
| 00Cash | 55,000,000 | ||
| b. | Pension Expense | 77,000,000 | |
| Pension Asset/Liability | 22,000,000 | ||
| 00Cash | 99,000,000 | ||
| c. | Pension Expense | 55,000,000 | |
| Pension Asset/Liability | 22,000,000 | ||
| 00Cash | 77,000,000 | ||
| d. | Pension Expense | 22,000,000 | |
| Pension Asset/Liability | 55,000,000 | ||
| 00Cash | 77,000,000 |
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