Question
The following information for Hopper Enterprises is given below:December 31, 2018Assets and obligationsPlan assets (at fair value)$600,000Accumulated benefit obligation1,110,000Projected benefit obligation1,200,000Other ItemsPension asset / liability,
The following information for Hopper Enterprises is given below:December 31, 2018Assets and obligationsPlan assets (at fair value)$600,000Accumulated benefit obligation1,110,000Projected benefit obligation1,200,000Other ItemsPension asset / liability, January 1, 201830,000Contributions360,000Accumulated other comprehensive loss503,700There were no actuarial gains or losses at January 1, 2018. The average remaining service life of employees is 10 years.
What is the pension expense that Hopper Enterprises should report for 2018?
a. $456,300b. $660,000c. $360,000d. $503,700
What is the amount that Hopper Enterprises should report as its pension liability on its balance sheet as of December 31, 2018?
a. $600,000b. $90,000c. $1,110,000d. $1,200,000
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Word Search For Auditors And Accounting Professionals Puzzle Book Audit And Accounting Vocabulary For Adults And Teens
Authors: Drew Drew
1st Edition
B0B5KVJHVL, 979-8839390089
