What is the amount that cooper enterprises should report
Question # 00767206
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Updated on: 06/25/2020 05:59 AM Due on: 06/30/2020
Question - The following information for Cooper Enterprises is given below:
December 31, 2018 Assets and obligations
Plan assets (at fair value) $600,000
Accumulated benefit obligation 1,110,000
Projected benefit obligation 1,200,000
Other Items
Pension asset / liability, January 1, 2018 30,000
Contributions 360,000
Accumulated other comprehensive loss 503,700
There were no actuarial gains or losses at January 1, 2018. The average remaining service life of employees is 10 years.
What is the amount that Cooper Enterprises should report as its pension liability on its balance sheet as of December 31, 2018?
$600,000
$90,000
$1,110,000
$1,200,000
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Rating:
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