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The following information relates to Jackson, Inc.: For the Year Ended December 31, 2020 2021 Plan assets (at fair value) $2,121,000 $2,906,000 Pension expense 916,000
The following information relates to Jackson, Inc.:
For the Year Ended December 31,
2020 2021
Plan assets (at fair value) $2,121,000 $2,906,000
Pension expense 916,000 741,000
Projected benefit obligation 2,511,000 3,251,000
Annual contribution to plan 1,025,000 765,000
Accumulated OCI (PSC) 825,000 726,000
The amount reported as the liability for pensions on the December 31, 2021 balance sheet is
| $ -0-. | |
| $45,000. | |
| $390,000. | |
| $345,000. |
Please explain in detail! Thank you. The answer I chose was 390,000 BUT it was wrong!
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