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Question 6 1 pts The Jackson Company has a defined benefit pension that has been in existence for some twenty years and properly accounted for
Question 6 1 pts The Jackson Company has a defined benefit pension that has been in existence for some twenty years and properly accounted for in accordance with current GAAP. Below is the bottom portion of the company's worksheet used to compute pension expense for the period ending December 31, 2015 and reflect the December 31, 2015 account balances following the 2015 pension journal entry. JACKSON COMPANY Pension Worksheet-2015 General Journal Entries OCI-Prior Service OCI Cash Cost Gain/Loss Annual Pension Expense Memo Record Projected Pension Benefit Plan Asset Liability Obligation Assets Assume this part of worksheet correctly prepared. Journal entry for 2015 Balance Dec. 31, 2014 Balance, Dec. 31, 2015 89 370 Dr. 48.000 Cr. 41,600 Cr. 105.600 Dr. 64.000 Dr. 14,070 Cr. 2000 Dr. 12070 Cr. 14,300 Dr. 217 700 C 283.33CT236000 203700 Cr. 520.000 Cr. 176.000 Dr. Where will the Projected Benefit Obligation - $520,000 be reported in the company's December 31, 2015 financial statements? Be specific in your answer. BI VA -A- IE 1 x , SEE - 2 VT1 12pt Paragraph
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