Question
Pronghorn Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $25,500 Cr. Accumulated benefit
Pronghorn Company provides the following selected information related to its defined benefit pension plan for 2020. Pension asset/liability (January 1) $25,500 Cr. Accumulated benefit obligation (December 31) 403,100 Actual and expected return on plan assets 9,000 Contributions (funding) in 2020 148,600 Fair value of plan assets (December 31) 795,800 Settlement rate 10 % Projected benefit obligation (January 1) 702,800 Service cost 79,580
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
4th Edition
1119607515, 978-1119607519
