The following balances relate to the pension plan of Rienstem Transportation Co. at December 31, 2008 and
Question:
Instructions:
1. Determine whether a minimum pension liability adjustment is required at December 31, 2008 and 2009.
2. Prepare journal entries at December 31, 2008 and 2009, to record any additionalliability.
Transcribed Image Text:
(in thousands) Dec. 31, 2008 Dec. 31, 2009 PBO ABO Fair value of the pension fund. Market-related value of the pension fund Unrecognized prior service cost Prepaid/(accrued) pension cost $3,075 2,804 2,754 2,550 240 15 96 $3,160 2,907 2,532 2,750 215 (30) Unrecognized net pension loss 383
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Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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