On December 31, 2024, Lauffer Company's defined benefit plan actuaries determined that the projected benefit obligation was deficit by $68,000 based on current plan obligation projections The entry to record this event includes which of the following? (Choose all that apply) A debit to other comprehensive income (equity) for $68,000. B. credit to projected benefit obligation of $68,000. OC credit to other comprehensive income (equity) $68,000. D. debit to pension expense $68,000. E debit to projected benefit obligation $68,000.
On December 31, 2024, Lauffer Company's defined benefit plan actuaries determined that the projected benefit obligation was deficit by $68,000 based on current plan obligation projections The entry to record this event includes which of the following? (Choose all that apply) A debit to other comprehensive income (equity) for $68,000. B. credit to projected benefit obligation of $68,000. OC credit to other comprehensive income (equity) $68,000. D. debit to pension expense $68,000. E debit to projected benefit obligation $68,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On December 31, 2024, Lauffer Company's defined benefit plan actuaries determined that the projected benefit obligation was deficit by $68,000 based on current plan obligation projections
The entry to record this event includes which of the following? (Choose all that apply)
A debit to other comprehensive income (equity) for $68,000.
B. credit to projected benefit obligation of $68,000.
OC credit to other comprehensive income (equity) $68,000.
D. debit to pension expense $68,000.
E debit to projected benefit obligation $68,000.
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