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Only have to find the exact amount of pension liability; please make sure it's correct; it's my last attempt. Question 4 of 4 3.82 /
Only have to find the exact amount of pension liability; please make sure it's correct; it's my last attempt.
Question 4 of 4 3.82 / 4 Blossom Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $27,200 Cr. Accumulated benefit obligation (December 31) 397,500 Actual and expected return on plan assets 10.900 Contributions (funding) in 2020 150,600 Fair value of plan assets (December 31) 795,300 Settlement rate 10 % Projected benefit obligation (January 1) 701.900 Service cost 79,530 (a) Your answer is correct. Compute pension expense, Question 4 of 4 3.82/4 (b) - Your answer is partially correct. Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2020. Blossom Company Income Statement (Partial) For the Year Ended December 31, 2020 Operating Expenses Pensian Expense 79530 Other Revenue / Expenses Pension Expense 59290 Blossom Company Balance Sheet (Partial) December 31, 2020 Question 4 of 4Step by Step Solution
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