Which of the following journal entries would be recordedwhen an entity contributes cash to its defined benefitpension plan?Select one:а.DR Cash; CR Net defined benefit liabilityO b. DR Pension assets; CR CashОс.DR Cash in trust; CR CashO d. DR Net defined benefit liability; CR Cash

Journal Entry for Contribution to Defined Benefit Pension Plan will be: Defined Befit Pension…

Which of the following journal entries would be recorded when an entity contributes cash to its defined benefit pension plan? Select one: O a. DR Cash; CR Net defined benefit liability O b. DR Pension assets; CR Cash O c. DR Cash in trust; CR Cash O d. DR Net defined benefit liability; CR Cash

Which of the following journal entries would be recorded when an entity contributes cash to its defined benefit pension plan? Select one: O a. DR Cash; CR Net defined benefit liability O b. DR Pension assets; CR Cash O c. DR Cash in trust; CR Cash O d. DR Net defined benefit liability; CR Cash

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.

Question

Which of the following journal entries would be recorded
when an entity contributes cash to its defined benefit
pension plan?
Select one:
а.
DR Cash; CR Net defined benefit liability
O b. DR Pension assets; CR Cash
Ос.
DR Cash in trust; CR Cash
O d. DR Net defined benefit liability; CR Cash

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