Question
9) The following information for Cooper Enterprises is given below: December 31, 2021 Assets and obligations Plan assets (at fair value) $600,000 Accumulated benefit obligation
9)
The following information for Cooper Enterprises is given below:
|
| December 31, 2021 |
| Assets and obligations |
|
| Plan assets (at fair value) | $600,000 |
| Accumulated benefit obligation | 1,110,000 |
| Projected benefit obligation | 1,200,000 |
|
|
|
| Other Items |
|
| Pension asset / liability, January 1, 2021 | 30,000 |
| Contributions | 360,000 |
| Accumulated other comprehensive loss | 503,700 |
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 Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2021?
The following information for Cooper Enterprises is given below:
|
| December 31, 2021 |
| Assets and obligations |
|
| Plan assets (at fair value) | $600,000 |
| Accumulated benefit obligation | 1,110,000 |
| Projected benefit obligation | 1,200,000 |
|
|
|
| Other Items |
|
| Pension asset / liability, January 1, 2021 | 30,000 |
| Contributions | 360,000 |
| Accumulated other comprehensive loss | 503,700 |
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 Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2021?
A) $600,000
B) $1,110,000
C) $1,200,000
D) $90,000
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Auditing Corporate Surveillance Systems Research Methods For Greater Transparency
Authors: Isabel Wagner
1st Edition
1108837662, 978-1108837668
