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These two numbers are not correct. Please help me fix it. Please also show your calculations and explain why, thanks! Current Attempt in Progress Flint
These two numbers are not correct. Please help me fix it.
Current Attempt in Progress Flint Company provides the following selected information related to its defined benefit pension plan for 2020. $23,100 Cr. 402,800 10,800 149,300 Pension asset/liability (January 1) Accumulated benefit obligation (December 31) Actual and expected return on plan assets Contributions (funding) in 2020 Fair value of plan assets (December 31) Settlement rate Projected benefit obligation (January 1) Service cost 805,500 10 % 706,000 80,550 (b) Your answer is partially correct. Indicate the pension-related amounts that would be reported in the company's income statement and balance sheet for 2020. Flint Company Income Statement (Partial) For the Year Ended December 31, 2020 Operating Expenses Pension Expense 151150 Other Revenue/Expenses Pension Expense 10800 Please also show your calculations and explain why, thanks!
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