Question

Dell Company adopted a defined benefit pension plan on January 1, 2014. Dell amortizes the initial prior service cost of $1,334,400 over 16 years. It assumes a 7% discount rate and an 8% expected rate of return. The following additional data are available for 2014:
Service cost for 2014 .......... $320,000
Prior service cost amortization ....... 83,400
Employer contribution made at 12/31/14 . 335,000

Required:
Compute the pension asset (liability) to be reported on Dell’s December 31, 2014, balance sheet.



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  • CreatedSeptember 10, 2014
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