The following information for Blossom Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $840000 Accumulated benefit obligation 1360000 Projected benefit obligation 1450000 Other Items Pension asset / liability, January 1, 2021 40000 Contributions 460000 Accumulated other comprehensive loss 753700 There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years. What is the amount that Blossom Enterprises should report as its pension liability on its balance sheet as of December 31, 2021? $1360000 $90000 $1450000 $610000
The following information for Blossom Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $840000 Accumulated benefit obligation 1360000 Projected benefit obligation 1450000 Other Items Pension asset / liability, January 1, 2021 40000 Contributions 460000 Accumulated other comprehensive loss 753700 There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years. What is the amount that Blossom Enterprises should report as its pension liability on its balance sheet as of December 31, 2021? $1360000 $90000 $1450000 $610000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter19: Accounting For Post Retirement Benefits
Section: Chapter Questions
Problem 6RE
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The following information for Blossom Enterprises is given below:
December 31, 2021 | |||||
Assets and obligations | |||||
Plan assets (at fair value) | $840000 | ||||
Accumulated benefit obligation | 1360000 | ||||
Projected benefit obligation | 1450000 | ||||
Other Items | |||||
Pension asset / liability, January 1, 2021 | 40000 | ||||
Contributions | 460000 | ||||
Accumulated other comprehensive loss | 753700 |
There were no actuarial gains or losses at January 1, 2021. The average remaining service life of employees is 10 years.
What is the amount that Blossom Enterprises should report as its pension liability on its
$1360000
$90000
$1450000
$610000
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