Question
QUESTION 3 Flex Corporation amended its pension plan on January 1, 2020, and granted 456,000 of prior service costs to its employees. The employees are
QUESTION 3
Flex Corporation amended its pension plan on January 1, 2020, and granted 456,000 of prior service costs to its employees.
The employees are expected to provide 2,00 service years in the future, with 300 service years in 2020.
Record the amount Flex should record as a detbit to pension expense as a result of the prior service cost amortization for 2020.
a. 68,400
b. 288
c. 0
d. 25,280
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The Chief Value Officer Accountants Can Save The Planet
Authors: Mervyn King, Jill Atkins
1st Edition
1783532939, 978-1783532933
