Business, 28.08.2020 18:01, fattypickeltoefungus
The following information pertains to Zion Company’s defined benefit pension plan:.
Net Pension liability, January 1, Year 1 $2,000
Service cost $17,000
Interest cost $40,000
Actual and expected retum on plan assets $22,000
Amortization of prior service cost arnising in a prior period $52,000
Employer contributions $40,000
In its December 31, Year 1, balance sheet, what amount should Zion report as the Net Pension Asset/Liability?
a. $7,000 asset
b. $15,000 liability
c. $45,000 liability
d. $52,000 liability
e. $5,000 asset
Answers: 1
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The following information pertains to Zion Company’s defined benefit pension plan:.
Net Pension lia...
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