Warrick Boards calculated pension expense for its underfunded pension plan as follows: Which elements of Warricks balance
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Warrick Boards calculated pension expense for its underfunded pension plan as follows: Which elements of Warrick’s balance sheet are affected by the components of pension expense? What are the specific changes in these accounts?
Service cost | 254 | |
Interest cost | 165 | |
Expected return on the plan assets ($115 actual, less $7 gain) | (108) | |
Amortization of prior service cost | 11 | |
Amortization of net loss | 2 | |
| 324 |
Which elements of Warrick’s balance sheet are affected by the components of pension expense? What are the specific changes in these accounts?
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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