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A company reported $400,000 of pension expense in its income statement. The balance sheet showed that the pension liability increased by $26,000 over the year.
A company reported $400,000 of pension expense in its income statement. The balance sheet showed that the pension liability increased by $26,000 over the year. No amounts were recorded in other comprehensive income for the pension plan for the year. Required How much cash was paid to the pension trustee during the period? Begin by selecting the formula needed to determine the amount of cash paid to the pension trustee during the period. The amount of cash paid to the pension trustee during the period is Pension expense Pension expense + Increase in pension liability Pension expense - Increase in pension liability Pension liability increase
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