Sandhill Corporation received the following report from its actuary at the end of the year: December 31, 2020 December 31, 2021 Projected benefit obligation $4384000 $4800000 Accumulated benefit obligation 2992000 3352000 Fair value of pension plan assets 3152000 3272000 The amount reported as the pension liability at December 31, 2020 is $ -0-. $1392000.
Sandhill Corporation received the following report from its actuary at the end of the year: December 31, 2020 December 31, 2021 Projected benefit obligation $4384000 $4800000 Accumulated benefit obligation 2992000 3352000 Fair value of pension plan assets 3152000 3272000 The amount reported as the pension liability at December 31, 2020 is $ -0-. $1392000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sandhill Corporation received the following report from its actuary at the end of the year:
The amount reported as the pension liability at December 31, 2020 is
December 31, 2020 | December 31, 2021 | |||||||
Projected benefit obligation | $4384000 | $4800000 | ||||||
Accumulated benefit obligation | 2992000 | 3352000 | ||||||
Fair value of pension plan assets | 3152000 | 3272000 |
The amount reported as the pension liability at December 31, 2020 is
$ -0-.
$1392000.
$1232000.
$176000.
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