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In the journal entry, the Pension Asset/Liability account is credited for: A. $400,000 B. $159,500 C. $150,000 D. None of the above $6,400,000 6,000,000 400,000
In the journal entry, the Pension Asset/Liability account is credited for:
A. $400,000
B. $159,500
C. $150,000
D. None of the above
$6,400,000 6,000,000 400,000 350,000 On January 1, 2019, McGee Co. had the following balances: Projected benefit obligation Fair value of plan assets Other data related to the pension plan for 2019: contributions to the plan Benefits paid On 1/1/20019, prior service cost was granted having a present value of Actual return on plan assets Settlement rate Expected rate of return Amortized Prior Service cost Amortization of net gain Service cost 150,000 430,000 9% 7% 40,000 50,000 250,000Step by Step Solution
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