Question
Hi. I had a question about the following scenario for pension payouts. The company is currently employing 60, and actuaries estimate that the company has
Hi. I had a question about the following scenario for pension payouts.
The company is currently employing 60, and actuaries estimate that the company has a pension liability of $107,041.70
The estimated cost of retired employees' health insurance is $43,718.91
Prepare adjusting entries for the pension liability and the health insurance liability.
This is all the information regarding pensions and postretirement benefits we are given. I think the adjusting entries are pretty straightforward. But they want us to calculate pension payouts as well. Without average salary or expected retirement dates, I'm not sure how to do that. Is there a way I can calculate expected pension payouts from this information?
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